Wells Fargo has agreed to sell the servicing segment of its commercial mortgage servicing business to Trimont, backed by Varde Partners. The transaction, announced Aug. 20, is expected to close in early 2025. Financial terms were not disclosed. San Francisco-based Wells Fargo was advised by a Wachtell, Lipton, Rosen & Katz team led by corporate partners Matthew M. Guest and Brandon C. Price. Varde Partners, which is based in Minneapolis, was represented by Cadwalader, Wickersham & Taft; Trilegal; and a Kirkland & Ellis team led by corporate partner Michele Cumpston.
Banking & Financial Services
August 21, 2024, 10:55 AM