NPLs

Opportunistic investors have so far chipped away at Italy’s huge mountain of defaulted real estate debt, but significant portfolios should emerge this year.

US investor CarVal has teamed up with an Italian asset manager with the aim of raising €400 million to invest in loan portfolios in Italy.

The chairman of the EBA has urged the creation of an EU-wide ‘bad bank’ to deal with Europe’s toxic loans, but the suggestion begs many questions.

A total of €49.4 billion of real estate loan and lender-owned property sales were closed across Europe during 2016, a sharp drop of 44 percent from the peak of the market in 2015, according to investment banking firm Evercore.

Oaktree Capital Management has been selected by Spain’s Banco Sabadell to buy a portfolio of real estate loans valued at around €950 million, according to Spanish press reports.

Gifford West, managing director at The Debt Exchange, gives Real Estate Capital his forecasts for the European real estate loan sales market in 2017.

Deutsche Bank’s Spanish arm has completed the sale of a non-performing loan portfolio with a face value of €430 million, significantly reducing its non-core loan book in the country.

Non-core real estate loans and lender-owned properties with a face-value of €24.4 billion have been sold in Europe this year, according to the first loan sales report to be published by Federico Montero (pictured) since his move from Cushman & Wakefield to investment banking firm Evercore.

Commercial real estate loan portfolios with an aggregate face value of €21.6 billion were traded across Europe during the first half of 2016, according to new research published by Deloitte.