DebtX, the Boston-based loan sale adviser, has announced it is selling EUR 138 mln in non-performing loans from three financial institutions in Germany and Italy. The company said it will sell EUR 94 mln in non-performing loans secured by commercial real estate located throughout Germany on 23 April. On 14 May, DebtX will sell EUR 14 mln in non-performing loans secured primarily by residential real estate in East Germany.
DebtX, the Boston-based loan sale adviser, has announced it is selling EUR 138 mln in non-performing loans from three financial institutions in Germany and Italy. The company said it will sell EUR 94 mln in non-performing loans secured by commercial real estate located throughout Germany on 23 April. On 14 May, DebtX will sell EUR 14 mln in non-performing loans secured primarily by residential real estate in East Germany.
In Italy, DebtX is selling EUR 30 mln in non-performing finance loans in May. The loans are secured by business assets throughout the country. Including these European loan sales, DebtX is currently in the market with more than $500 mln in loans.
'DebtX's European loan sales are attracting broad investor interest, and we expect active bidding for all three loan portfolios,' said DebtX managing director Gifford West, head of the company's European operations. 'The European loan sale market remains very robust at DebtX due to the strong liquidity and increasing demand for non-performing loans from investors around the world.'
West said DebtX expects to hold additional European loan sales in coming months as more financial institutions in the Eurozone seek to sell loans rather than manage them through prolonged workouts.
