Castlelake and Urbania take up Unicaja’s toxic asset

Castlelake and Urbania have bought toxic assets from Unicaja. The US investment fund and the real estate group have acquired the lands from a portfolio that included problematic assets and mortgages that were paid-up to date. The mortgage part was bought by Mediterráneo Vida.

Among the lands bought by Urbania there is a plot located in Sánchéz Blanca area, in Malaga, for which are planned 2,000 dwellings, according to El Confidencial.

These assets were part of a portfolio valued in €830 millions, that the bank as finally successfully sold for €949 million, getting capital gains of €17 millions.

Original Story:EJE Prime 
Photo: Unicaja banco site
Translation & Edition:Prime Yield