OREANDA-NEWS. Fitch Ratings has affirmed the commercial mortgage special servicer rating of AEGON USA Realty Advisor, LLC (AURA) at 'CSS2'.

The affirmation of AURA's special servicer rating reflects the company experience in working out assets since 1991, in conjunction with the experience and tenure of the staff, which remain high. The rating also considers the company's detailed and thorough policies and procedures coupled with its multilayer internal control environment, propriety asset management system, as well as the financial support provided by its investment-grade parent company, AEGON, N. V.

AURA provides real estate investment services, including special servicing, for its general investment account and other unaffiliated institutional investors including CMBS conduit and single-borrower transactions. The company's named CMBS portfolio has been driving growth in special servicing since AURA was appointed the named special servicer of multiple single-borrower and conduit transactions in the last several years. CMBS special servicing accounts for approximately 60% of its named special servicing portfolio, the majority of which is on behalf of third-party non-affiliate investors. The company special-services all major asset types, including multifamily, office, retail, industrial, and healthcare, with properties spread across the U. S.

As of June 30, 2016, AURA's named special servicing portfolio comprised 54 CMBS loans with an unpaid principal balance (UPB) of $11.3 billion in 24 transactions. Of the 54 loans, none were actively being special serviced and two are real estate owned (REO) assets totaling $9 million. Additionally, the company was named special servicer on 1,233 non CMBS loans with a UPB of $9.7 billion, of which 107 loans with a UPB of $1.2 billion and 38 REO assets with a UPB of $321 million were being actively special serviced, inclusive of non-defaulted high-risk loans.