Station 31

What Station 31 does

Station 31 Partners, LLC is a privately held specialty finance firm headquartered in Mount Pleasant, South Carolina, operating through two wholly owned affiliates. MTAG Services delivers institutional-grade asset-servicing capabilities — master servicing, special servicing, custodian services, transition management, three-tier backup servicing (Cold/Warm/Hot), and the proprietary Asset Management Support Services (AMSS) platform — to investment banks, institutional investors, rating agencies (KBRA, Moody's, S&P, DBRS), PE firms, and family offices managing specialty finance portfolios. Since 1997 the firm has serviced more than $6 billion in assets across 23 states and has been named servicer on 30+ rated securitizations while maintaining SOC 1 Type 2 compliance.

MTAG Investments, the second affiliate, is the firm's investment-management arm and manages four distinct real estate debt vehicles: MTAG Investment Fund I ($12M, 2018, 15% net IRR), the Edisto Loan Fund (Fund II, 2020, $134M aggregate via senior bank leverage and subordinated debt), MTAG Opportunity Fund I (2023, distressed and special-situation CRE notes, 19.5% projected net IRR), and the S31 Texas Loan Fund (2024, Texas property-tax lending, 16% target net IRR). Strategies span short-duration private credit, property-tax lending on Texas tax liens (weighted 13.25% interest, 12.25% weighted LTV), and distressed real estate note purchases.

The firm operates an enterprise field-sales motion through direct institutional relationships and earns revenue from asset-servicing fees, recurring investment-management fees on LP funds, and transaction interest on originated property-tax loans. Underlying technology consists of the proprietary AMSS asset-management platform and an in-house deal-sourcing and management system; both are designed for bespoke structured investment workflows rather than standardized lending.

Name

Station 31

Legal name

Station 31 Partners, LLC

Website

https://station31partners.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Station 31 Partners, LLC is a privately held specialty finance firm operating MTAG Services (institutional asset servicing for rated securitizations and structured portfolios) and MTAG Investments (real estate private credit and Texas property-tax lending via four LP funds), serving investment banks, rating agencies, PE firms, and family offices.

Ownership category

akta.pro rank

Product category

Specialty Asset Management & Servicing

NAICS

Portfolio Management and Investment Advice (523940), Activities Related to Credit Intermediation (5223), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

Keywords

• Specialty finance servicing
• Alternative asset management
• Real estate private credit
• Property tax lending
• Investment fund management

Headquarters

HQ city

Mount Pleasant

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Asset Servicing Fees: MTAG Services generates revenue through servicing fees for managing specialty finance assets on behalf of institutional clients including investment banks, rating agencies, and institutional investors. Services include master servicing, special servicing, custodian services, transition management, and backup management across 23 states with $6B+ in assets under management.
2. Investment Management Fees: MTAG Investments generates revenue through management of investment funds including real estate private credit, distressed debt purchasing, and property tax lending. The company manages multiple fund vehicles with capital from institutional investors, family offices, and LPs targeting returns of 15-19.5% net IRR.
3. Property Tax Lending Interest: MTAG Investments originates property tax loans in Texas, providing capital to property owners who cannot pay property taxes. The lender pays taxes directly to the municipality and receives a tax lien transfer with super senior priority. Revenue generated through interest on loans with weighted interest rates of approximately 13.25%.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Station 31 Partners is an alternative investment servicer and manager that runs two core affiliates: MTAG Services provides specialty finance asset servicing (master, special, custodian, transition, and three-tier backup servicing plus the Asset Management Support Services (AMSS) technology platform) for institutional clients across 23 states with $6B+ under management; MTAG Investments manages multiple institutional and family-office LP funds focused on real estate private credit, distressed debt purchasing, and Texas property tax lending, targeting net IRRs of 15%–19.5%.

Product overview

Station 31 Partners operates as a premier alternative investment servicer and manager through two core affiliates: MTAG Services delivers industry-leading specialty finance asset servicing solutions, while MTAG Investments provides investment management across real estate private credit, distressed debt, and property tax lending. MTAG Services offers a comprehensive technology platform including Master Servicing, Special Servicing, Custodian Services, Transition Management, and three-tier Backup Servicing (Cold/Warm/Hot), along with the Asset Management Support Services (AMSS) module for bespoke structured investments. MTAG Investments manages four distinct funds: MTAG Investment Fund I, Edisto Loan Fund (Fund II), MTAG Opportunity Fund I, and S31 Texas Loan Fund. Together, these products provide end-to-end asset servicing and investment management across the specialty finance and real estate sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• MTAG Services Specialty finance asset servicing for institutional clients including investment banks, institutional investors, and rating agencies. Offers master servicing, special servicing, custodian services, transition management, and tiered backup (Cold/Warm/Hot) servicing, backed by a proprietary technology platform and SOC 1 Type 2 compliance. Manages $6B+ in assets across 23 states.
• MTAG Investments Investment management affiliate running multiple LP funds focused on real estate private credit, distressed and special-situation debt purchasing, and Texas property tax lending, targeting net IRRs of 15% to 19.5% for institutional investors, family offices, and asset managers.
• Asset Management Support Services (AMSS) Proprietary modular platform for bespoke structured investments: clients upload monthly portfolio data tapes, collateral information, deal-specific criteria, and customized programs; the system automates collateral and cash-activity uploads and provides ad-hoc reporting, covenant tracking, waterfall administration, and trends analysis.
• Backup Servicing (Cold / Warm / Hot) Three-tier backup servicing for rated specialty finance transactions: Cold Backup for initial-phase readiness and asset-process familiarization, Warm Backup with data import and transition plan, and Hot Backup with real-time data synchronization and seamless activation protocols.
• MTAG Investment Fund I Proof-of-concept real estate private credit fund that originated eleven loans totaling $12.0 million and returned a net IRR of 15% to investors.
• Edisto Loan Fund (Fund II) Institutional real estate fund investing in private credit and property tax liens; has originated 37 loans worth $82 million and $52 million in tax liens, with an aggregated portfolio size of $134 million.
• MTAG Opportunity Fund I Fund investing in distressed and special-situation debt opportunities, with a projected net IRR of 19.5% to LP investors.
• S31 Texas Loan Fund LP fund that originates Texas property tax loans for real estate taxes, capturing super-senior-priority tax lien transfers at approximately 12.25% weighted LTV.

Quantifiable outcome

• $6B+ in assets managed since inception in 1997
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SitusAMC: Provider of asset servicing, valuation, and advisory for commercial and residential real estate, including rated securitizations. Directly competes with MTAG Services on institutional CRE servicing mandates.
• PCCP, LLC: Real estate private credit and equity investment manager serving institutional investors with funds targeting CRE debt and special situations. Comparable to MTAG Investments' private credit and distressed debt strategies.
• Trimont Real Estate Advisors: Specialty commercial real estate loan servicer offering master, primary, and special servicing for institutional clients. Closest direct peer to MTAG Services given overlapping CRE-focused servicing and rated securitization experience.
• LNR Partners (Starwood Property Trust): Special servicer for commercial real estate, now part of Starwood Property Trust. Closely aligned with MTAG Services' special servicing and CRE distressed asset management offerings.
• Pretium Partners: Real estate-focused investment manager with credit and equity strategies, including residential and CRE lending. Comparable to MTAG Investments' specialty real estate credit fund approach.

Broad incumbents

• KKR Real Estate Credit: Large-scale institutional real estate credit platform within KKR, targeting similar middle-market and special situations CRE debt opportunities. Compares to MTAG Investments' Opportunity Fund.
• Wells Fargo Corporate Trust Services: Major institutional loan servicer and trustee, serving as backup servicer and master servicer on rated transactions. Competes with MTAG Services on larger rated deals.
• BNY Mellon Corporate Trust: One of the largest loan servicers and corporate trust providers globally, frequently competing for master servicing roles on rated securitizations. Larger incumbent in MTAG Services' competitive set.
• Arbor Realty Trust: Specialty multifamily and CRE lender/servicer operating at much larger scale. Overlaps with MTAG Services' multifamily servicing and MTAG Investments' private credit origination.

Emerging players

• HomeVestors of America: Largest single-family home buyer franchise focused on distressed and value-add residential properties. Partial overlap with MTAG Investments' distressed real estate strategy and tax lien experience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/station-31-partners-llc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Station 31