CBRE Advised Sankaty & Starwood on Acquisition of Loan Portfolio

Sankaty Advisors and Starwood Capital, advised by CBRE, has acquired a portfolio of almost 300 loans from Bankia.

Madrid, 29th October 2014 – Sankaty Advisors and Starwood Capital, advised by CBRE, has acquired a portfolio of almost 300 loans from Bankia.

Known as Project Amazona, the portfolio includes both bilateral and syndicated loans which were backed, in part, by a wide variety of real estate assets, including hotels, commercial real estate and land. The outstanding balance of the loans exceeded more than €800 million and was comprised primarily of non-performing and sub-performing loans. The real estate assets supporting the loan portfolio were located widely throughout Spain.

Michael Madigan, Director of CBRE Capital Advisors, commented:

“Spain continues to hold great potential for opportunistic investors. The country risk has improved tremendously, yet we're still ahead of the major upswing in real estate fundamentals. Therefore, investors are still able to take positions in one of Europe's most populous and dynamic countries, at great discounts. Conversely, Spanish lenders are able to take advantage of this tremendous investor interest to sell large portfolios of assets and loans, which is great for the system as a whole.” 

Miguel Casas, Director of CBRE Hotels, commented:

''International investors continue to focus on hotel investment in Spain and are finding in debt purchases one of the most attractive ways to enter into ownership. CBRE has provided them with a thorough analysis and due diligence of each of the hotel assets and helped designing future value creation strategies which we will be helping to implement in the coming months''.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

 

 

 


 
 
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