Aura REE Advises Sankaty On Purchase Of €560M Portfolio From Bankia

7 May 2015 – Sankaty Press Release

Sankaty Advisors, LLC, the independently managed credit affiliate of Bain Capital, announced yesterday that it has acquired a portfolio of secured loans from BFA-Bankia Group, through a controlled affiliate.

Aura REE provided real estate valuation advice on the transaction; J&A Garrigues acted as legal advisor; and Copernicus, a Spanish financial services company, assisted Sankaty with the transaction due diligence and will also act as the servicer for the portfolio post-acquisition.

The portfolio—which has a par value of €560 million—is made up of defaulted bilateral and syndicated Spanish real estate developer and SME loans, secured primarily on various real estate collateral. This is Sankaty’s second loan portfolio transaction with Bankia in the last 12 months, which further develops its experience and understanding of the Spanish market.

“We are excited to be making this investment in Spain, our second acquisition in the market in the last 6 months. This transaction further enhances our track record of investing in complex and idiosyncratic portfolios across Europe, where we have the ability to leverage our experience while remaining flexible to maximize value for our investors,” said Alon Avner, a Managing Director and Head of Sankaty’s European business, which has bought €2.7 billion in loan portfolios from European banks over the last three years.

Original story: Sankaty Press Release

Edited by: Carmel Drake

Email

Linkedin

Twitter

Google