Axactor acquires a portfolio of REOs from Cajamar
Madrid, March 22nd, 2018
Axactor has acquired a REO portfolio with the appraisal value of more than 26 mEUR from the financial institution Cajamar. The portfolio consists of approximately 650 assets and is the second portfolio acquisition in Spain this year.
Axactor continues to develop the investments in the real estate market in Spain through the fifth acquisition in this sector, and with this strengthening the position as a solid and active investor in the Spanish market.
With this acquisition from Cajamar, Axactor continues to diversify the company´s product portfolio by growing in the secured and unsecured NPL segments, as well as REOs and the third-party collection business in Spain.
The acquisition will be financed through Axactor's exciting funding facilities.
Axactor Spain country managers said: "2018 will be the year in which Axactor will emerge as one of the most important players in Spanish debt market".
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 900 employees.
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