RXR Credit Solutions is expanding it’s real estate credit platform by preparing to launch REX Loan Services, a commercial mortgage special servicer. RXR brings direct lending and development expertise to the special servicing business, potentially offering more creative restructuring solutions than traditional servicers, according to Morningstar.
“As a fully integrated owner and operator of office and multifamily properties, we are uniquely positioned to maximize resolutions on behalf of CMBS trusts,” said Steve Schwartz, RXR EVP, Head of Real Estate Credit. “Our focus to start will be on office transactions, the vast majority of which are in New York City, where we are one of the largest owners and managers of office properties. This, combined with our deep understanding of credit, enables us to deliver outsized returns to CMBS bond investors.”
