The Yanks are coming! Cajamar to offload bad real estate debt to USA fund
Three US funds have put a joint offer of 200 million euros for the bad real estate debt of Cajamar, our local bank. TPG, Apollo & JC Flowers have joined forces to table the offer, which looks likely to be accepted, according to Expansion newspaper. Cajamar setup a real estate asset management company called Cimenta2, which attempts to sell all their embargoed property. It also manages a vast amount of outstanding credits, or bad debt. Continue reading The Yanks are coming! Cajamar to offload bad real estate debt to USA fund