DBRS Confirms GGR Servicing Asset Management Special Servicer Evaluation of Adequate

DBRS has today confirmed the evaluation of Adequate for GGR Servicing Asset Management, LLC’s (GGRSAM or the Company, formerly ZAIS Servicing Asset Management) Commercial Mortgage Special Servicing capabilities.

GGR, headquartered in Dallas, Texas, was founded in July 2010 as ZAIS Servicing Asset Management, LLC. In November 2011, the Company was acquired and recapitalized under the new name. While the Company’s growth has been slow, GGR’s new partners are expected to provide various future special servicing and asset management opportunities.

Among the strengths of GGR is the experience level of its staff members, who average 27 years of asset management and special servicing experience, including CMBS. GGR also has developed a comprehensive set of policies and procedures for special servicing. GGR’s challenges include its ability to secure asset management and special servicing assignments in a very competitive environment. The new partners have already provided GGR with new business and the Company has several new business initiatives in its pipeline. Since the Company is small, key employee risk is another challenge. However, most of the employees have been with the Company from its founding and appear to be highly committed to GGR.

The servicer evaluation reflects a comprehensive review of the GGR organizational structure, the management team, asset administration, loss management, technology, staffing and training, procedures and controls, and financial strength.

Notes:
The applicable methodology is DBRS CMBS Servicer Evaluations, which can be found on our website under Methodologies.