Seeking Alpha

Reuters: JP Morgan, Lone Star eye Spanish property market with €3.7-3.9B deal

  • JP Morgan (JPM) and private-equity firm Lone Star are in the final stages of acquiring a portfolio of Spanish property loans from Germany's Commerzbank (CRZBF) for €3.7-3.9B (up to $5.4B), Reuters reports.
  • The assets comprise €1B of non-performing debt and €3.3B of performing loans backed by office blocks and shopping centers.
  • Should the deal go ahead, JPMorgan and Lone Star would be following other major foreign investors - particularly Blackstone - into a property sector that is apparently starting to recover from a massive bust that occurred during the financial crisis.
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Comments (1)
  • Puma69
    , contributor
    Comments (146) | Send Message
     
    They talk about the financial crisis as if it was behind us.
    20 May 2014, 05:31 AM Reply Like
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