Bank of New York said Wednesday that it had agreed to buy the commercial mortgage servicing platform of Nomura Holding America Inc.'s defunct Capital America unit.
Bank of New York's acquisition of Capital Company of America Client Services LLC of Irving, Tex., will be completed in 30 days, the bank said.
Terms were not disclosed.
The client services division acted as the master servicer and special servicer for commercial mortgages originated and securitized by Capital America, which Nomura shut down last year after the unit suffered $275 million in losses.
Along with staff and technology, Bank of New York gets a portfolio of servicing rights on commercial real estate loans. The bank would combine its acquisition with another subsidiary, BNY Trotter Kent.