23.02.2017
publity AG DE0006972508
DGAP-News: publity expands NPL portfolio to around EUR 3.2 billion
DGAP-News: publity AG / Key word(s): Funds/Incoming Orders
publity expands NPL portfolio to around EUR 3.2 billion
23.02.2017 / 09:00
The issuer is solely responsible for the content of this announcement.
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Press release
publity expands NPL portfolio to around EUR 3.2 billion
- Additional mandate to exploit a further NPL portfolio with receivables
of around EUR 831 million
- 5-year servicing agreement with international investor
- Portfolio includes approx. 980 real estate loans
Leipzig, 23 February 2017 - publity AG (Entry Standard, ISIN DE0006972508)
has received a new mandate from an international investor to exploit a
portfolio of non-performing loans (NPL) with receivables totalling around
831 million. The volume of the total NPL portfolio assigned to publity for
servicing has thus increased to around EUR 3.2 billion.
NPL business is the second pillar of publity AG's business activities. It
supplements the core business of co-investments in joint ventures with
institutional investors, for which the real estate assets under management
now also total around EUR 3 billion. The new NPL portfolio includes approx.
980 real estate loans, mostly from large German banks. As part of the
servicing agreement publity will take over the processing and exploitation
of the transferred portfolio for a 5-year period and will participate
substantially in the exploitation income.
Thomas Olek, publity AG's CEO, explained: "We are very pleased that we have
been able to significantly further expand our NPL business. Once again, our
expertise, our many years of experience and our strong network have paid
off. What is more, we have been able to substantially further reinforce our
position as Germany's largest NPL servicer."
The law firm CMS Hasche Sigle, with a team headed by its Lead Partner Frank
Schneider, is responsible for end-to-end legal consulting for the
transaction.
Press contact:
Financial press and Investor Relations:
edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
Phone: +49 69 905505-52
E-mail: [email protected]
About publity
publity AG is an asset manager specialising in office properties in
Germany. The company covers a broad value chain, from purchases through to
the development and sale of the properties, and also has a track record of
several hundred successful transactions. publity is characterised by its
strong network in the real estate sector as well as banks' Work Out
departments, and has excellent access to funding. The company has excellent
access to investment funds and executes its transactions quickly using a
highly efficient process with tried and trusted partners. In some cases,
publity acts as a co-investor in joint venture transactions to a limited
extent. publity AG's shares (ISIN DE0006972508) are traded on Frankfurt
Stock Exchange's Entry Standard.
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23.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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546975 23.02.2017
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