Alantra advised Liberbank on the sale of its real estate servicing platform Mihabitans to Haya Real Estate for €85m

Aug 2017

Sell-side advisory

Value €85 million

Alantra advised Liberbank, the eighth Spanish listed bank, on the sale of its real estate servicing platform, Mihabitans, to Haya Real Estate for €85m.

As part of the agreement the two entities have reached a 7-year agreement for the exclusive management of Liberbank’s current and future REO exposure.

Liberbank focuses on the retail business nationwide and with a leadership position in Asturias, Castilla La Mancha and Extremadura.

The acquirer, Haya Real Estate, is a subsidiary of Cerberus, currently one of the leading special servicing platforms in Spain, with more than €42bn under management (both REOs and NPLs), employs 680 professionals working from 16 different offices and a sales network spanning of 5,800 real estate agents and brokers.

The transaction completed allows Liberbank to obtain significant capital gains and reinforce its capital structure, to accelerate the divestment of their non-core assets and finally, to increase their presence in the retail mortgage market through a strategic agreement with Haya Real Estate.