NEW YORK--(BUSINESS WIRE)--ACORE CAPITAL, LP, one of the leading U.S. commercial real estate investment managers, today announced that Fitch Ratings (“Fitch”) upgraded its Primary rating to CPS3+ from CPS3 and its Special Servicer rating from CSS3+ to CSS2-.
With both ratings being assigned a Stable Rating Outlook, Fitch notes the upgrades reflect various factors including increased management and staff allocations to servicing, additional demonstrated servicing performance, continuous technology enhancements, and significant performing loan oversight. Fitch also attributes internalization of property inspections, the creation of a dedicated real estate owned (REO) team, and proactive engagement with borrowers to mitigate defaults as reasons for the upgrades.
In its Ratings Action Commentary, Fitch highlights how these ratings reflect the crucial role primary and special servicing play in supporting ACORE CAPITAL’s investment management platform and experienced asset management team as well as the firm’s financial condition and governance infrastructure, which includes comprehensive policies and procedures. The report also credits ACORE CAPITAL for its focus on compliance and the comprehensive and timely nature of its business plans.
“These important upgrades from a premier, global ratings agency like Fitch further distinguish ACORE CAPITAL’s status as a preeminent commercial real estate investment manager,” said Warren de Haan, Chief Executive Officer of ACORE CAPITAL. “Global institutional investors and borrowers alike continue to place their trust in us because of our expertise, infrastructure and unwavering commitment to industry best practices.”
To access Fitch’s Ratings Action Commentary, please click here.
About ACORE CAPITAL
ACORE CAPITAL, LP is one of the leading U.S. commercial real estate investment managers with approximately $19 billion of assets under management. With offices in New York, Los Angeles, Miami, San Francisco and Dallas, ACORE CAPITAL originates, acquires and manages first mortgages, B-notes, mezzanine debt and preferred equity. ACORE CAPITAL’s success has been fueled by its long-standing industry relationships and access to a consistent pipeline of origination opportunities. For more information, please visit WWW.ACORECAPITAL.COM.
