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Sales at Banco Popular and BBVA, however, are a substantial chapter in the country’s broken debt clean-up story, writes Juan Barba, managing director at Meridia Capital.
The New York-based firm will finance the deal mostly through debt as it uses equity from its €7.8 billion Europe V fund.
Spanish bank Banco Popular has entered exclusive talks with Blackstone over the sale of a majority stake in its €30 billion property portfolio, the bank said in a statement released on Monday. Blackstone has agreed to acquire 51 percent of Popular’s portfolio, comprising repossessed assets worth an estimated €18 billion and €12 billion of non-performing […]
Slovenian lender Abanka is selling a portfolio of European non-performing loans (NPLs) with an original value of about €246 million. The country’s third largest bank said the portfolio comprises “well-diversified” non-performing loans against a variety of different companies, the majority of which have real estate assets as their collateral. The sale process, currently in its […]
Bain Capital Credit has taken its first step into the Portuguese market with the acquisition of real estate loans that have a total outstanding balance of €476 million from a local bank, as well as loans from a Spanish bank at a par value of €489 million.
Spain’s Banco Santander is planning to sell the property exposure of the recently-purchased Banco Popular at a discount of up to 40 percent, according to Spanish news agency Europa Press.
London-based asset manager Algebris has agreed to acquire a portfolio of non-performing loans secured against mortgages with a gross value of €693 million from Italian bank Banco BPM.
New York-based hedge fund Davidson Kempner is back in the market raising its latest distressed debt fund, which will focus on European loan portfolios including real estate.
Spanish bank Bankia has made a €180 million portfolio of non-core loans available for sale, according to a report in Spanish newspaper Expansión, Real Estate Capital's sister publication Private Debt Investor reported.
Opportunistic investors have so far chipped away at Italy’s huge mountain of defaulted real estate debt, but significant portfolios should emerge this year.