Tag Archives: cimenta2

Cajamar offloads 400 million euros in bad loans for 7,5 M in cash

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Local cooperative bank Cajamar has rolled up some 400 million euros in bad loans into one big package and has sold them for seven and a half million euros in cash to Haya Real Estate, a mainly US backed investment vehicle. This is the second big operation with that company for the bank, after it sold Haya its real estate platform “Cimenta2” for 225 million euros last year. The loans in question were all granted Continue reading Cajamar offloads 400 million euros in bad loans for 7,5 M in cash→

The Yanks are coming! Cajamar to offload bad real estate debt to USA fund

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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→