CBRE Eyes Euro Servicing Market

CB Richard Ellis Group, Los Angeles, has announced that it is expanding its commercial mortgage loan servicing business to include Europe.The company says it plans to target portfolio lenders as well as the growing European commercial mortgage-backed securities market. CBRE is a major player in commercial mortgage servicing through its subsidiary, L.J. Melody & Co. Melody's joint venture with GE Commercial Finance Real Estate, GEMSA Loan Services, serviced a commercial loan portfolio of approximately $60 billion as of Dec. 31. GEMSA serves more than 90 portfolio lenders and 150 securitized pools. The company can be found on the Web at http://www.cbre.com.