Engel & Völkers Investment Consulting has been hired by an unnamed NPL asset manager to market a portfolio of 17 German assets valued at around €30 mln.

The properties are mainly located in B and C locations in western Germany, and are made up  of retail parks, individual retail properties, and mixed-use properties.

'We’re mainly looking at opportunistic investors and regional developers as potential buyers,' said Thorsten Brogt, head of distressed debt / opportunity real estate funds at EVIC.

EVIC expanded its business model to include the Non-Performing Loans (NPL) sector at the start of 2016. 'Within a few weeks, we were able to acquire our first mandate in our new NPL business sector,' noted Kai Wolfram, managing partner of Engel &Völkers Investment Consulting. 'We are confident that further mandates will follow. The German NPL market has a lot of potential, as many banks are having to dispose of their distressed real estate loans.'