“The acquisition of SeRad has strengthened our position immensely in time for the next NPL wave. The two companies fit together very well and this acquisition allows us to reach the necessary future corporate size immediately,” explains Kolwja A. Zimmer, Board Member of immofori AG.
“We are now the undisputed market leader. The real winners are our customers, our employees and our company. We see new challenges in the market with great interest and we will consider what business fields we can expand. Apart from CMBS, we’re now looking into distressed ship financing as we have great proximity here at our Hamburg location,” stresses Kai Sudmann, the other Board Member of immofori AG.
The NPL market has been in a phase of consolidation for some time now. For example, the consortium of Shinsei Bank, NordLB and WestLB closed its settlement platform and turned its servicing over to immofori AG at the end of 2011 and JP Morgan also shut down its settlement subsidiary Whiteshire.
immofori AG is the independent provider of specialised services for non-performing real estate loan portfolios as well as structured finance products and brings together international investors with national banks. As an alternative to the sale of receivables, immofori handles terminated loans on behalf of each financial institution. Since the beginning of 2008, immofori has also mediated successful refinancing. The valuation and marketing of real estate complete the company’s product range. The firm was founded in 2004. The company is based in Hamburg. Standard & Poor’s rated immofori “above average” for the third consecutive time in 2012, which makes immofori AG one of the five servicers in Europe to receive this top rating.
More information can be found at www.immofori.de