Truist Plans to Expand in $1.8 Trillion CMBS Servicing Market

Truist Financial Corp. is seeking to build a deeper foothold in the business of servicing the $1.8 trillion commercial mortgage-backed securities market.

The bank’s Grandbridge Real Estate Capital business will start bidding for master-servicer roles on CMBS transactions in coming months, according to Marty Allen, head of capital markets at Grandbridge, which currently provides primary servicing.

“We’re not coming in to dip our toe in this,” Allen said in an interview. “We want to be one of the main players in the market.”

Master servicers are responsible for managing payments and keeping records — similar to what primary servicers do ...