Millennium bcp set to sale the €100 million “Project Lucia”

Millennium bcp bank has put for sale the Project Lucia, a portfolio consisting of 60 million euros in nonperforming loans (NPL) and further 50 million euros in real estate owned (REO) assets. The sales process is being led by KPMG.This isn’t the only portfolio that the Portuguese bank has currently in the market. In August, bcp had already put Project Green up for sale, a 160 million euros portfolio composed of NPLs and REO from the Castro Marim and Monte Rei luxury resorts, both in Algarve.

However, the Castro Marim resort properties would be excluded from the portfolio, due to the low bid values offered by investors. The assets from Monte Rei remain though, but it isn’t certain that the deal will be concluded due to the value of the offers on the table, according to what several sources knowers of the process told to ECO. Bank of America Merrll Lynch and Bybrook are the bidders.

Original Story: ECO News | News 
Photo: Millennium bcp website
Edition: Prime Yield