Backshop owner CMBS.com expands its offerings in partnership with SitusAMC

Sausalito, CA (Aug. 20, 2024) – CMBS.com, owner of the industry leading Backshop commercial real estate loan origination, management and servicing platform, today announced a strategic partnership with SitusAMC, a leading provider of services and technology to the commercial and residential real estate finance industry. As part of the partnership, SitusAMC will transition ownership of CLOSER, its CRE origination system, to CMBS.com. Additionally, SitusAMC will leverage the Backshop platform for its U.S. asset management services.

Combining Backshop and CLOSER

The partnership combines Backshop’s robust origination, asset management and servicing capabilities with CLOSER’s origination capabilities to establish a best-in-class platform that enhances users’ ability to originate, manage, model, and analyze their CRE portfolios.

“We are excited to bring the CLOSER platform and its team to Backshop. Together we will be the No. 1 most used CRE software in the industry. We plan a new interface that incorporates the best of both products to cement our leadership position. In addition to expanding our presence in the agency lending business, the SitusAMC business strengthens our foothold in the servicing part of the industry. Now deal data will flow transparently from origination, through servicing all the way to the lender and our class-leading bond analysis tools.”

– Jim Flaherty, Founder & CEO, Backshop

“This partnership, along with the planned efforts to integrate the best of both platforms, will establish a new standard in CRE software, creating a powerful platform to support CRE lending and management activities. We are excited about the value this will bring to the market and look forward to supporting the future growth of Backshop.

– Michael Franco, CEO, SitusAMC

Backshop was the first web-based software application to model the entire deal stack including properties, debt, equity, and bonds. The platform’s underwriting and asset management capabilities bring transparency that enables lenders and investors to make smarter, faster and more profitable decisions.

CLOSER is a comprehensive loan origination system, streamlining the origination and management of commercial real estate secured debt. The platform has a strong hold in GSE and CMBS markets, supporting ~35% and 20%, respectively.

Enhancing SitusAMC’s Asset Management Offering

SitusAMC is a leader in commercial real estate debt servicing and asset management. The firm manages more than $433 billion of unpaid principal balance across the U.S. and Europe (as of 12/31/23). SitusAMC supports its clients which are comprised of top banks, insurance companies, pension funds, asset management firms, as well as REITS and Private Equity funds. As part of the partnership, SitusAMC will onboard the Backshop platform to support and enhance the firm’s asset management offering.

“Backshop’s robust asset management capabilities will provide the tools our asset managers need to support our clients’ portfolios and fuel strategic decision making. We look forward to onboarding the software and continuing to deliver exceptional outcomes for our clients.”

– Anne Jablonski, Head of CRE, SitusAMC

About SitusAMC  

SitusAMC is the leading independent provider of innovative, trusted solutions that support the entire lifecycle of commercial and residential real estate finance, powering more efficient, effective, and agile businesses. For more information, visit www.SitusAMC.com.

About CMBS.com

Founded in 2000, CMBS.com provides commercial real estate valuation, pipeline, loan origination, asset management, and securitization management software. The firm’s flagship platform, Backshop, is the leading CRE loan origination, management and servicing platform supporting a range of CRE market participants. CMBS.com is also an authorized third-party data provider to the CMBS industry.

Contact

Jim Flaherty
Founder & CEO, Backshop
jim@cmbs.com