REO Asset Management Company Acquired by Brillion Asset Solutions
Brillion Asset Solutions has acquired the REO asset management company Infinity National Asset Management.
Terms of the transaction were not disclosed.
According to Brillion, a Newport Beach, Calif.-based asset management firm, this acquisition “significantly increases the company's portfolio of clients and increases its vast real estate practitioner network, leading to a more efficient and timely disposition of nonperforming assets.”
Due to the transaction, San Diego-based Infinity's management, employees, broker network and client engagements have been transferred to Brillion. Brillion said these workers are going to be a key component in the firm's business operations nationwide.
“Our team believes in Brillion's vision and the ability to materially improve the way that distressed commercial and residential properties are renewed into performing assets,” said Jay Kister, the former president of Infinity who was named executive vice president for Brillion at the closing of the transaction.
Brillion provides technology and education-based outsourcing solutions for banks, credit unions, hedge funds, REITs and private equity firms. The company offers end-to-end solution for aggregation and disposition of troubled, distressed and special real estate assets by offering asset management in both the short sale and REO areas.
Most recently, Brillion has added private and public auction capabilities to further extend its suite of solutions for the disposition of nonperforming assets.
“Through our proprietary technology platform, we are providing an all-inclusive environment for the disposition, tracking and closing of all types of transactions, from commercial and residential REO to commercial and residential short sale,” said John Fukuda, CEO of Brillion.
Even with the acquisition, Brillion still plans to maintain two West Coast offices in both companies' current headquarters.