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Caixabank Negotiating Sale of 5,700 Mortgages

The loans are secured by 4,500 properties, currently valued by KPMG at €775 million.

Sede corporativa de CaixaBank en Barcelona

CaixaBank is continuing to clean up its balance sheet by reducing non-performing loans. An expected sale of mortgages, valued at 576 million euros, called the MoMA project, is nearing completion.

KKR, Tilden Park and Waterfall are the finalists, according to El Confidencial. Others such as Cerberus have already been ruled out. The whole process is being monitored by the consultancy firm KPMG.

The MoMA portfolio consists of 5,700 mortgages with 3,700 creditors. The amount owed totals 495 million euros. On the other hand, CaixaBank is requesting a higher amount than the value of the loans because they are backed by 4,500 properties valued at 775 million euros, a higher value than the loans.

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