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Midland Loan Services, a PNC Real Estate Finance Company, earned the servicing rights to seven commercial mortgage-backed securities transactions totaling $5.4 billion in the fourth quarter of 2000, the company has reported.
For the whole of 2000, Midland was named master servicer for 18 CMBS transactions totaling $13 billion and special servicer for 6 CMBS transactions totaling $4.25 billion, according to the company.
The fourth quarter rally helped Midland rise to the top spot in the Mortgage Bankers Association of America's year-end 2000 rankings of CMBS servicers, with a total CMBS servicing portfolio of $44.7 billion, up 32% from 1999, the company said.
Some of the CMBS transactions for which Midland was selected as master servicer in the fourth quarter are:
* Lehman Brothers Commercial Mortgage Trust 2000-LLF C7 - a $1.5 billion transaction, secured by a pool of 21 floating-rate loans backed by properties in 13 states and the U.S. Virgin Islands.
* Salomon Brothers Commercial Mortgage Trust 2000 C3 - a $915 million transaction, secured by a pool of 180 mortgage loans. The ...