US private equity firm Cerberus Capital Management is acquiring €400 mln of non-performing commercial real estate loans in the Netherlands.
US private equity firm Cerberus Capital Management is acquiring €400 mln of non-performing commercial real estate loans in the Netherlands.
The loans form part of a larger NPL portfolio held by Amsterdam-listed Van Lanschot, the oldest independent bank in the Netherlands with a history dating back to 1737.
The transaction is expected to be completed in the third quarter of 2015.
Van Lanschot said it will continue to run down the remaining portfolio, which had an outstanding principal of €3.1 bn at end-December 2014. The bank began its NPL sell-out programme in 2013 and expects to complete it by end-2017.
