EOS Immobilienworkout has acquired a single non-performing loan (NPL) of €36.9m secured by a shopping centre in the Netherlands. The shopping centre is located in Limburg province, in close proximity to the German border. The deal was brokered by Engel & Volkers Investment Consulting (EVIC).
“The deal is the first cross-border NPL transaction we have supported and required us to leverage our international network,” noted Thorsten Brogt, Member of the Board for Distressed Debt/Real Estate Opportunity Funds at EVIC. “The transaction marks our entry into the international NPL market, which will help us continue our expansion. We expect a significant number of NPL transactions in 2019, particularly in Southern Europe, along with continuing high transaction volumes in Ireland and the United Kingdom”.
“We have been watching the Dutch market for a while now and are happy to have achieved market entry by making the acquisition,” said Jochen Prinz, Managing Director of EOS Immobilienworkout. “We have years of experience in handling distressed, real estate secured debt. Plus our home base in Mulheim an der Ruhr gives us a clear geographic advantage for the Dutch market, allowing us to ensure close customer support and service.”
