Nordic debt specialist Axactor has announced the acquisition of a new REO (Real Estate Owned) portfolio from an unnamed Spanish financial group.
The portfolio, with a value of €102 mln, consists of a total of 1,500 assets and is being acquired with a mix of cash and debt.
The unnamed financial institution will retain 25% of the Spanish SPVs that own the assets in the portfolio, while Axactor will hold 75% through joint venture company ReoLux.
It is the seventh REO portfolio to be acquired by Axactor since last year, bringing the total number of assets to around 8,000 with an appraisal value of more than €400 mln.
Axactor specialises in both debt collection and debt purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain.
