Arbitrage was assigned by a global investment management firm to provide real estate valuation underwriting advice and associated market insight in preparation of the non-binding round related to the acquisition of a corporate non-performing loan portfolio, the “Amoeba” NPL portfolio, marketed by Piraeus Bank.
The Amoeba portfolio consisted of € 1,615m (legal claim) of denounced receivables and non-performing exposures. To support the investor in making an informed non-binding offer for the acquisition of the NPL portfolio, Arbitrage commercially evaluated the portfolio’s real estate assets (1,344 in total), performed a detailed valuation of c.200 assets and contributed in the general underwriting process.
Arbitrage work included also a technical appraisal and analysis that enabled the investor to better understand any capital expenses requirements and explore alternative added value asset management scenarios.
