Aug 20 (Reuters) - Wells Fargo ( WFC ) will sell its

non-agency third-party Commercial Mortgage Servicing business to

global commercial real estate loan services provider Trimont,

the companies said on Tuesday.

The move comes as the banking sector in the United States

faces increasing pressure due to elevated interest rates and

challenges in the commercial real estate market.

Founded in 1988, Trimont is a specialized commercial real

estate loan services provider which provides services to help

lenders manage and grow their commercial real estate loans.

The deal, for which no value was disclosed, is expected to

close in early 2025, pending certain conditions, and will result

in Trimont managing over $715 billion in U.S. and international

commercial real estate loans.

The "strategically important transaction" will position

Trimont to be a key partner to real estate capital providers,

said Jim Dunbar, Chair of Trimont and Partner at Värde Partners.

Commercial real estate markets, particularly in the

United States, have suffered a sharp fall in valuations since

2021 after office vacancy rates jumped in the wake of the

pandemic, with analysts predicting further challenges for

lenders and property owners in the near future.

Funding for the transaction will be provided by Värde

Partners, an alternative investment firm, which acquired and has

owned Trimont through certain funds since 2015.

J.P. Morgan Securities served as a financial advisor with

Goldman Sachs, providing additional advisory services.