05/08/2014 – Expansión
The mortgage and real estate asset management business Aktua now has a credit rating from the rating agency Standard & Poor’s (S&P). This firm comprises the acquisitions of Banesto and BMN’s real estate management businesses, made by the North American fund Centerbridge. The statement from S&P may provide a boost to Aktua’s business.
In a report, the rating agency points outthe growth which Aktua has experienced and highlights the solid and professional management team, the internal control systems and encouraging rates of recovery.
It is the first rating of Aktua given by S&P. Enrique Dancausa, CEO of the real estate operator, believes that “this rating reaffirms our position of leadership and as being a point of reference in the management of mortgage assets in the Spanish market, where there is a great necessity for advanced management.”
Business in Spain
Aktua is the brand name with which the American fund Centerbridge operates in Spain, after being acquired by Banesto at the end of 2012 for 100 million euros. With this transaction, Centerbridge became the first international fund to purchase real estate and mortgage asset management subsidiaries from the Spanish bank.
Additionally, the North American investor last April acquired BMN’s real estate management company for 50 million euros, positioning itself as one of the principal brick and mortar management businessin the country.
Original article: Expansión
Translation: Aura REE