21/07/2014 – El Economista
Servihabitat, a property servicer controlled by TPG (51%) and CaixaBank (49%), attends the bidding for the management of assets belonging to Spain´s “bad bank” (or Sareb by its acronym in Spanish) with unshakeable belief of being awarded one of the contracts.
“Servihabitat is a leading real estate platform on the market wanting to keep the position”, said CEO for the company Julián Cabanillas.
Sareb has set the auction in motion with view to awarding new servicing agreements and thereby obtaining help in dealing with the huge magnitude of loans and properties transferred to it from bailed-out banks. It is said that three or four bidders will be awarded the contracts (selected among banks, investment funds and servicers).
For Servihabitat, the agreement with Sareb is “the hottest deal of the year” so it is truly interested in being among the winners, seeing it as “an opportunity of growth”.
Álvaro J. Martín, the chief officer of Business Developement for the servicer, assures the firm will demonstrate all its potential and skills. “We need to play and win”.
Cabanillas adds that if Sareb do not pick Servihabitat, it will lose an excellent property manager with 25 years of experience in the sector.
At the end of May, the latest data available, the firm administered a €43 billion worth of assets out of which €23.3 billion were of real estate type.
Although the servicer is also present in such countries as Portugal, Poland or Romania, it wants to focus on its “natural” market – the Spanish one, where it spots pockets of opportunities in short and medium term.
Original article: El Economista (after: Efecom)
Translation: AURA REE