Axactor Buys 1,500 Assets From a Spanish Bank Worth €102M

17 September 2018 – Eje Prime

Axactor is continuing to heat up its Norwegian capital with Spanish real estate. The Scandinavian fund has purchased a portfolio containing almost 1,500 foreclosed assets from a Spanish bank whose value amounts to €102 million. With this deal, the European company has now completed seven operations in the Spanish real estate sector.

The portfolio, called Omega B, has been transferred to Axactor under the joint venture format: the financial entity, whose name has not been revealed, will retain ownership of 25% of the assets, whilst the remainder will pass into the hands of the Norwegian fund.

Since its arrival in the Spanish real estate market in 2017, Axactor has accumulated more than 8,000 assets under management. One of the largest operations that the Norwegian fund has completed in the last year was the acquisition of a portfolio of problem assets from Banco Sabadell worth €900 million.

Original story: Eje Prime

Translation: Carmel Drake