Blackstone Renames CatalunyaCaixa Inmobiliaria the “Anticipa”

12/06/2014 – El Economista

The new owner of CatalunyaBanc´s property servicer did not wait even a week to introduce some changes and rename the apartment, land and loan manager “Anticipa”.

According to the deal sealed on 4th June, the investment fund will pay €40 million for management and marketing of the €9 billion worth of assets found both in balance sheets of CatalunyaCaixa and Sareb, to which the bank transferred a large part of its real estate and developer credits.

This is the first denomination change registered in the sector witnessing a wave of massive property managers´acquisitions.

Possibly, Anticipa will take part in the open bidding for 2015 asset management contract with Sareb.

At the moment, CatalunyaCaixa administers and sells a big part of the €16.5 billion gross worth of assets transferred to the bad bank alone. Moreover, Anticipa is bound to inherit the 150-person staff of the property servicer, now led by new CEO Eduard Mendiluce.

Moreover, the bank is in the middle of its €1.5 billion soured loan portfolio sale.


Original article: El Economista (by F. Tadeo)

Translation: AURA REE