Crown Mortgage Management and Forum Partners have agreed a recapitalisation of the servicing operations of the Crown Group.
The agreed transaction, which is subject to regulatory approval, will result in the purchase of Crown’s servicing and mortgage co-investment operations from Crown Westfalen Bank with financing proceeds from an affiliate of Forum Partners, a global real estate investment management firm.
Crown CEO Steve Haggerty said: “This transaction will provide Crown with a secure capital base and a regulatory framework from which it can take greatest advantage of the growing market for third party management of commercial and residential loans.””