Cajamar sells 7.3 BILLION of real estate assets for just 225 million euros

…and this is good news! I returned to Spain to be greeted with this exciting bit of news – not sure why they thought I’d be particularly interested. Anyway, the US deal I mentioned recently seems to have fallen through, and instead Cajamar Group have sold off Cimenta2 assets to Haya Real Estate, a “Spanish service group specialised in the management of building investment and real estate asset management”. Although I suspect that los politicos Continue reading Cajamar sells 7.3 BILLION of real estate assets for just 225 million euros

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