A company without much public name recognition is due for a big payday, the Wall Street Journal reports. CWCapital Asset Management, controlled by Fortress Investment Group, has been managing New York’s Stuyvesant Town and Peter Cooper Village apartment complex on behalf of creditors since 2010, after the owners defaulted on their $3 billion mortgage and surrendered the property.

Now, with a soaring rental market, Blackstone Group LP announced last month it was purchasing the development from CWCapital for $5.3 billion. With the sale, CWCapital is poised to rake in as much as $615 million, according to an estimate by Barclays PLC.

The sum is surprising for what is essentially a service provider that contracts with investors to restructure loans and manage foreclosed properties, said Edward Shugrue,chief executive of Talmage LLC, a bond manager who invests in commercial-property debt but doesn’t own bonds tied to Stuyvesant Town.

“It’s the mother lode,” Mr. Shugrue said. “Comb through structured finance—there’s nothing like this….That’s a pretty flippin’ crazy amount of money.”

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