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‘Mega-deals’ in the Spanish market during 2017 could encourage other banks to put portfolios on the block, says the investment banking firm.
Sareb has managed to reduce bad loans by almost one-third, but divestment of toxic assets remains behind target.
Dale Lattanzio, managing partner for DRC Capital, talks with Real Estate Capital about the prospects and trends for 2018.
Oaktree Capital Management has bought a portfolio of non-performing loans with a nominal value of €150 million from Sareb, Spain’s ‘bad bank’.
Deutsche Bank has acquired a portfolio of non-performing loans with a nominal value of €375 million from Sareb, Spain’s ‘bad bank’.
US private equity firm Cerberus has signed €3 billion debt financing with Morgan Stanley to finance the acquisition of BBVA's bulk of property assets, Spanish media reported.
Residential development in Spain is back, with banks again willing to provide finance and reckless lending a thing of the past. 
Henderson Park’s Nick Weber is targeting value-add opportunities in a late-cycle market. Europe’s wall of debt maturities is helping to create them.
Spanish bank BBVA has sold an 80 percent stake in its domestic real estate business to US private equity firm Cerberus for €4 billion.
Lenders trying to capture high-yielding opportunities should consider the lack of debt available to buy land for Spain’s residential comeback.
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