Situs Opens Underwriting, Due Diligence and Special Servicing Shop in Atlanta.

HOUSTON, Nov. 8, 2010 /PRNewswire/ -- The Situs Companies selected Atlanta for its expansion due to the high concentration of experienced industry professionals, and the number of existing clients in the region.  Ellerbe will be initially looking to recruit 25 professionals with experience in CRE loan underwriting, due diligence and collateral valuation, asset management, workouts, as well as strategic disposition and REO advisory services.  

Situs has hired over 120 professionals this year, primarily in its Houston and New York offices, and North Carolina operations center. According to the Company, growth has been seen across all business lines, and is driven by the massive deleveraging of commercial real estate debt market and the rebirth of CMBS. Situs has been heavily involved in bank recapitalizations, loan valuations and restructurings, new CMBS originations, and NPL special servicing.

"We are excited to welcome Tammy to the Situs family.  She brings with her a rich underwriting and valuation background and over 20 years of industry experience.  We are equally excited that she will be anchoring our 10th office, representing the continued growth of our integrated platform," said Steve Powel, Situs Principal and COO.  

Tammy Ellerbe previously worked for CWCapital, as a Managing Director & Head of Underwriting for their Capital Markets Lending Business. "I am looking forward to the opportunity to establish the firm's Atlanta office. Having worked with the Situs team for a number of years, I feel like we are perfectly positioned to take advantage of the reemergence of our client's commercial real estate lending activities by providing loan underwriting and securitization support, as well as primary and special servicing," said Ellerbe.

About Situs

The Situs Companies is a leading provider of commercial real estate advisory services to the financial services industry. Since 1985, clients have relied on Situs' experience, insight and best-in-class processes. Combining creativity, flexibility and strategic planning, the company offers life of the loan solutions from due diligence to disposition. The company is recognized throughout the industry for consulting, advisory, special servicing, outsourcing and disposition solutions. More recently, the company added capital markets and platform restructuring expertise through its affiliate, Oasis Real Estate Partners. Situs is headquartered in Houston and has offices throughout the United States and Europe. Visit our website at www.situscompanies.com.

SOURCE The Situs Companies