Haya Real Estate has been selected by Sareb for the management of its rental portfolio
- The contract with a 2-year tenor, includes the management of 3.000 residential and industrial assets
- The new servicing agreement is a strategic business line for Sareb, specially focused in adding value to the rental assets in the mid-term
Madrid, January 9th 2020. Haya Real Estate (“Haya”), the Spanish market leader in non-performing loan and real estate asset management, announced today that a new contract for the management of more than 3,000 residential and tertiary rented assets has been awarded by Sareb.
This new contract provides continuity to the rental management services that Haya has been delivering during the last years for Sareb, adding value through the extensive experience of a specialized and dedicated team.
The asset management servicing agreement is a strategic business line for Sareb, specially focused in adding value to the rental assets in the mid-term. This new agreement will be effective from January 1, 2020 and will last two 2 years. The contract has been awarded to Haya after a highly competitive process.
The portfolio is made up of 80% residential assets and 20% of tertiary properties distributed throughout the Spanish geography. 40% of the assets are located in the Valencian Community, followed by Madrid Community, Castilla-León and Castilla-La Mancha, with 24% of the total portfolio, also, the South of Spain specially Andalusia and the Canary Islands, with 16%.
Haya has been able to become a reference servicer in a key business line for Sareb that will support its transition to its new business model. This rental management contract is additional to the mandate granted in October 2019 by Sareb to manage the assets of the Esparta project, a € 8.4 Bn (net book value NBV) portfolio of loans and REO (Real Estate Owned) up to June 2022.
Enrique Dancausa, CEO of Haya Real Estate mentioned: “We are very proud to have been selected again by Sareb to carry out the asset management of its rental assets portfolio. This contract strengthens the leadership of Haya Real Estate in the rental management services and shows the resilience of a very diversified business model”.
About Haya Real Estate
Haya is the leading company in the management of Non-Performing Loans and Real Estate Owned assets (NPLs and REOs, respectively) in Spain. The company manages assets as well as financial and real estate vehicles for a wide variety of clients, from financial institutions to international investors. In total, Haya is responsible for €31.8 billion of AuMs (Assets under Management).
Haya offers products and services covering the entire value chain of NPLs and REOs. Its NPL services focus on the management of corporate or individuals’ debt, with a high degree of specialization in the valuation, management and recovery of loans and the conversion of non-performing loans into real estate owned assets. Real estate services are delivered to a portfolio of ~189,000 assets under management, and they range from asset boarding, property management, maintenance and valuation to its commercialization. Haya's services are fully integrated into the lifecycle of each NPL / REO, and also involve portfolio advisory, underwriting capabilities, land management, completion of works in progress and securitization.
Haya’s main clients include financial institutions such as BBVA, Caixabank (former Bankia), Cajamar, Liberbank, Sareb and international investment funds such as Cerberus Capital Management. The company employs ~863 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested ~€63 million euros in cutting-edge technology, data analysis and IT tools focused in process efficiency and performance delivery.
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