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Haya Real Estate to manage more than 200,000 assets and €49BN AuM thanks to Divarian Contract

  • The companies have signed an agreement whereby Haya will manage and market Divarian's real estate portfolio, which has more than 60,000 assets.
  • This transaction also considers the acquisition of Divarian's real estate asset management and operational capabilities by Haya.
  • The agreement consolidates Haya Real Estate as a flagship servicer in Spain.
  • The transaction is expected to be completed by early June 2019.

Madrid, 25 April 2019. Haya Real Estate (“Haya”), a leader in the management of real estate debt and property assets in Spain, has signed an agreement with Divarian Propiedad («Divarian») for the administration, management and commercialization of its real estate assets. The agreement also includes the integration of Divarian's operational real estate management capabilities in Haya, including employees and other resources. The transaction is expected to be completed by early June 2019.

This transaction will consolidate Haya as the flagship real estate servicer in Spain, with more than 1,250 direct employees and €49BN assets under management. The company will increase its capillarity, as well as its real estate management and marketing capabilities, throughout the Spanish territory. This will allow Haya to underpin its position as well as to accelerate growth and continue offering a first-class service to its clients.

Thanks to this transaction, along with the recently announced agreement to manage the Apple portfolio - the Cerberus and Banco de Santander joint venture -, the Company further diversifies its client portfolio. Currently, Haya provides services to SAREB, BBVA, Bankia, Grupo Cajamar and Liberbank, in addition to other institutional funds.

Carlos Abad, CEO of Haya Real Estate, highlighted: “We are thrilled with this transaction. Divarian’s team has a strong and proven asset management capability and we believe that this union will allow us to strengthen our business, as well as enrich our portfolio of services. A stronger and more competitive company will result thanks to the combination of our technical, commercial and human capabilities. This agreement gives us a unique position to continue growing, not only in the number of clients, but also in services”.

Enrique Dancausa, CEO of Divarian, said: “We are convinced that this transaction ensures the best service for the company’s assets and creates the best value for our shareholders by leveraging on the combined capabilities of both organizations. In addition to this, the transaction expands the career development opportunities for Divarian’s professionals as they become part of one of Spain’s leading servicers”.

About Haya Real Estate

Haya is one of the leading independent providers of real estate and debt management services, and the largest bank-independent third-party servicer of Real Estate Development loans (“REDs”) and Real Estate Owned assets (“REOs”) in Spain. It services assets on behalf of its financial institution and institutional investor clients and has assets under management of €40 billion (as of December 31, 2018).

Haya’s core service offering covers the entire value chain of loans and real estate assets. For REDs, this comprises advisory and underwriting for loans and collateral; debt management and recovery; and conversion of RED obligations into REOs. For REOs, this comprises admissions and repossession; management of REOs; and the sale and rentals of REOs. Haya’s integrated offering of real estate servicing solutions also includes portfolio advisory (selection, valuation and negotiation), land development advisory, rental management, real estate advisory, brokerage and securitization.

Among its main clients are SAREB, BBVA, Bankia, Grupo Cajamar, ING and Liberbank, in addition to other institutional funds. Haya employs 900 professionals and has a sales network over 2,500 real estate brokers. The company has invested more than 30 million euros in cutting-edge technology, programs and data analysis in order to improve process efficiency.

About Divarian

Divarian is a real estate business company – of which an 80% is owned by a company belonging to a group owned by institutional funds advised by CERBERUS, and the remaining 20% by BBVA - to which it was transferred the real estate business of BBVA last year. Divarian currently owns a portfolio of approximately 60,000 properties, mostly for residential use, although it also has commercial, industrial and land assets throughout Spain. Its employees have extensive expertise in the management and marketing of real estate assets.