Project Challenger & Colliseum
ServiceReal Estate Transactions
Value €9.1 billion
Alantra advises Banco Sabadell on the sale process of €9.1bn gross value of REO assets to Cerberus Capital Management.
The Transaction was structured through the transfer of two real estate portfolios commercially identified as “Challenger” and “Coliseum” to one or more newly incorporated companies, the share capital of which was transferred so that Cerberus owned an 80% interest in the NewCo’s share capital and Banco Sabadell the remaining 20% interest.
These Portfolios represented the vast majority of their REO exposure to date.
Following the closing of the transction, Solvia Servicios Inmobiliarios, S.L.U. continued to service on an exclusive basis the real estate assets included to the Transaction.
The Transaction contributed positively to enhancing the profitability of Banco Sabadell group, requiring the recognition of additional provisions with a net impact of approximately € 92 million, and create at the time a positive impact of circa 13 basis points on the capital ratio of Common Equity Tier 1 (fully loaded) of Banco Sabadell.
Sep 2020Secured NPEValue €1.9 billionSep 2020Service Real Estate TransactionsValue €1.9 billion
Aug 2019Sell-side advisory - REOValue €250 millionAug 2019Service Real Estate TransactionsValue €250 million
Aug 2019Sell-side advisory - NPL and REOValue €200 millionAug 2019Service Real Estate TransactionsValue €200 million
Oct 2018Sell-side advisory - REOValue €700 millionOct 2018Service Real Estate TransactionsValue €700 million