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npl-reo Market News: Spanish Real Estate Intelligence

Crèdit Agricole Italia plans a UTP transaction as the bank looks for an external servicer
21 May, Bebeez Crèdit Agricole Italia is currently working on a UTP operation amounting to approximately 100 million euro, corresponding to nearly all the bank’s UTP at the end of 2019. The bank is also exploring the possibility of a servicer mandate to manage impaired loans for about one billion euro. Illimity, doValue and Intrum are among the candidates. Source: Bebeez Translator: Cristina Ambrosi  
 
Mycredit: negative prince trend and growing interest in the NPL market
20 May, Il Sole 24 Ore The survey carried out by Mycredit on about 500 brokers aimed at assessing the impact of Covid-19 on the real estate market shows a negative trend of prices and the demand. Most players believe the market is struggling, even if only in the short term. According to the survey, commercial and industrial assets will be the most impacted by the crisis, while prices are likely to rise for residential properties. Finally, 95% of the people surveyed are interested in the NPL market. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
 
Illimity acquired mortgage loans for 130 million euro from Tre Holding
20 May, Milano Finanza Illimity Bank has recently purchased a portfolio composed of mortgage loans and participating financial instruments from the asset manager Tre Holding for a total of 130 million euro. The portfolio consists of credits of 13 Italian and foreign banks towards Tre Holding concerning assets leased to a luxury brand. Illimity entered with Tre Holding a medium-long term debt restructuring agreement. The financing has a duration of 5 years and is aimed at consolidating the company’s finances. Source: Milano Finanza Translator: Cristina Ambrosi