Fortress Investment Group, New York, has agreed to acquire CW Financial Services, a servicer, special servicer and originator of commercial and multifamily real estate loans, from majority shareholder Otera U.S. Holding.

Terms of the transaction were not disclosed. Closing of the transaction is expected during the third quarter subject to regulatory approvals and closing conditions.

Beekman Advisors served as advisor to CWCapital. As of April 30, CWCapital was the investment manager, servicer or special servicer for a portfolio of $183.6 billion of loans and securities.

CWCapital is the second-largest special servicer in the U.S. with over $160 billion of named special servicing assignments.

It is also a significant Fannie Mae, Freddie Mac, and Federal Housing Administration lender with $11.5 billion of multifamily and commercial loans serviced.

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