Cerberus Sets Up Haya Real Estate to Manage Bankia´s RE Assets

6/03/2014 – La Informacion

The company will manage the real estate assets of Bankia once their transfer materialized. The bank awarded administration of the assets to one of companies from the Cerberus Capital Management Group for between €40 and €90 million. This company will be the Haya Real Estate, according to sources.

The operation allowed Bankia to outsource 457 job positions. The newly established company will also manage a part of credit portfolio consisting of developers´debt in BFA-Bankia´s balance.

Some time ago, the company announced that the contracts signed named Cerberus for 10 years, exclusively, to manage assets worth €12.200 million.

 

Original article: La Información

Translation: AURA REE

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