CaixaBank is negotiating the sale with KKR, Tilden Park and Waterfall of a portfolio of 5.700 mortgages valued at 576 million euros, as reported by El Confidencial.
The transfer of this real estate loan portfolio, which is being advised by KPMG, is known as the MoMa project, which the financial institution expects to close before the end of the year.
Specifically, the MoMa project consists of 5,700 mortgages, with 3,700 creditors. The amount of non-performing loans amounts to 495 million and the portfolio is backed by 4,500 properties valued at 775 million, a figure higher than that of the loans.
The assets are located in Madrid, Barcelona and Seville, and some of them are valued at more than one million euros. In this way, those located in Mallorca, Boadilla del Monte, Pozuelo de Alarcón, Costa Brava, Xàtiva or Barcelona stand out.
The finalist companies are trying to take over this mortgage portfolio: KKR through its Hipoges fund; Tilden Park has already closed a deal with CaixaBank in the past. Finally, Waterfall, founded by former executives of the entity, already bought at the end of 2019 mortgage loans from the financial company.
