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17 September 2018
Axactor continues to grow in the Spanish REO Market
Axactor has reached an agreement with a major Spanish financial entity to purchase a portfolio of REOs through a bilateral agreement.
The project, named “Omega B” has an appraised value of more than EUR 102M, and a total of approximately 1,500 assets. The financial institution will keep 25% of the “Join Venture” created to house the assets, while Axactor will have 75% of the company.
This portfolio represents the seventh acquisition that Axactor has obtained in the Inmate segment since its entry into the market in 2017, and will have under management more than 8,000 assets with an approximate value of EUR 400M. The high number of transactions carried out in less than three years shows the determination and capacity for growth that Axactor has in the Spanish market.
"The Axactor Spain team is proud to strengthen its position in the REOs Market by consolidating and strengthening relationships with the largest financial institutions in the country"
"The large investment that the group is making in Spain together with the optimization of resources will guarantee efficiencies whose results we will see at the end of the year"