Indotek Group acquires €43.5 million worth of real estate portfolio in Spain awaiting restructuring

The acquisition is a strategic milestone in Indotek’s expansion in the Iberian Peninsula and builds on the company’s more than ten years of experience in managing non-performing loans (NPLs) and underperforming assets. The package includes more than 90 percent residential properties – 307 apartments and 89 houses – as well as parking lots, service buildings and commercial properties.

Florian Nowotny, CFO of Indotek Group, pointed out:

“This acquisition is an important step in our expansion into Western Europe and complements our existing Spanish portfolio. Our experienced team has once again implemented a complex transaction with international partners and provides an opportunity to apply our proven value creation strategy to underperforming portfolios.”

The properties are located in Catalonia (40%), the Community of Madrid (18%), the Community of Valencia (15%) and Andalusia (11%). 41% of the acquired portfolio is considered highly liquid, indicating significant repositioning and value-add potential.

Michael Reinmuth, Head of Transactions for Spain and Portugal at Indotek, highlighted:

“With this transaction, we have strengthened our presence in the Iberian Peninsula in addition to hotels and shopping centers, as well as in the residential and NPL asset segments.”

Indotek is working with its local partner, Redwood, recently acquired by BCM Global, to evaluate, price and clean up the portfolio. Indotek is also actively exploring opportunities to acquire additional NPL and underperforming assets in Spain, while preparing new acquisitions in Portugal, Italy and the Central European region, leveraging its extensive cross-border asset management and servicing capabilities.