Credit – Sabadell sells 40,000 unpaid loans to Norwegian firm Zolva (El Confidencial)
- The face-value of the portfolio amounted to €832m and consists of 25,000 consumer loans and 14,200 loans to SMEs, with an average ticket of €22,000
- Other finalists that were in the process included PRA, Axactor, Arena Capital and Savia Asset Management
Credit – The price of fixed rate mortgage loans in Spain rises above 400pbs (El Español)
- Thus far only Bankinter has surpassed the 400bps fixed interest mortgage rate, even though most Spanish entities have already exceeded 3% APR
- The next interest rate hike in the euro zone will take place on the 21st of July
Servicing – Cerberus studies merger of Haya with another servicer (EjePrime)
- After an IPO attempt in 2018 and a failed sale in 2020, Cerberus seeks to sell Haya to another servicer
- The company has €29.5bn in assets under management
Real Estate – Inmocaixa, JP Morgan, GMP and CBRE IM compete for CaixaBank’s historic headquarters in Madrid (El Confidencial)
- The most likely buyer seems to be Inmocaixa
- The highest bids amount to €200m
Real Estate – Bankinter, Pggm fund and GSA bid for the Resa residences (EjePrime)
- Resa currently has 42 properties in its portfolio and more than 11,500 rooms, mainly in Madrid and Barcelona
- The firm could be valued between €800m and €900m
Credit – Haya Real Estate reduces debt by €55m and issues €368m in new bonds (ElEconomista)
- The company, which has had the support of more than 90% of its existing bondholders to proceed with the refinancing, has repaid the €55m of outstanding debt
- The new majority shareholder henceforth holds a 72.5% participation in the group and will oversee the funds advised by Cerberus
Servicing – Servihabitat presents its subsidiary specialising in the urban development management of land portfolios (LaVanguardia)
- Servihabitat’s land portfolio has a volume of more than 37.7m sqm of buildable land with the potential to develop 200,000 homes over the next 10 years
- One of the “differential” aspects of Serviland, the new subsidiary, is its multi-client vision, which makes it the “first company specialised in urban management that offers a service to third parties”
Real Estate – The Cortina Koplowitz family are negotiating to acquire a shopping mall owned by El Corte Inglés located in Sol (ElConfidencial)
- In 2020, the value of the group’s real estate portfolio was €16.1bn, 5.3% lower than in 2019
- The building has a surface area of 1,857sqm divided into a basement, ground floor and five floors