npl-reo Market News: Spanish Real Estate Intelligence

The bank has engaged EY to find a buyer for the portfolio which contains non-performing mortgages worth between 900 and 1,000 million euros.

The British investment manager is looking for a buyer for its real estate portfolio in Spain, which is valued at 700 million euros.

The bank is planning to enter the market for non-performing loans as a buyer and is looking to invest €1 billion in the doubtful credit market.

The three account for more than half of the €142.4 billion in asset purchases that have taken place since 2015, according to Axis Corporate.

The Catalan bank is looking to sell a portfolio of problematic assets despite the market downturn and is evaluating the divestment of 1,000 delinquent SME loans.

Alantra has completed the first close of its fund 'Alteralia Real Estate Debt FIL' with commitments of over €30 million. It hopes to achieve its target size of more than €100 million through subsequent fundraisings by the end of the year.

The bank chaired by Ana Botín has reported that the signing of mortgages fell by 60% in April and that 45,000 clients have taken up the mortgage moratorium.

The depreciation in house prices will put borrowers and their portfolios at risk, and so the volume of doubtful and non-performing loans may increase.

Axis expects to see a massive sale of non-performing loan portfolios before January 2021, since the banks will be keen to remove those assets from their balance sheets.

Moody's has warned that the coronavirus is "directly and severely affecting" the operation of judicial systems, which is delaying the recovery of non-performing loan securitisations, the so-called NPLs.