Cerberus News
  • July 1, 2014

    Cerberus Leads Spain’s $27 Billion Real Estate Servicing Market

    Haya Real Estate, a real estate servicer owned by Cerberus Capital Management LP, has taken the largest share of Spain’s servicing market as distressed-property investors target 19.9 billion euros ($27 billion) of assets to manage.

    Haya now has 22.4 percent of a market comprised of 210,949 properties, according to a report by Aura Real Estate Experts…

    Source: Bloomberg

  • June 11, 2014

    Spain's Cajamar sells firm to Cerberus unit for 225 mln euros

    Spain's Haya Real Estate, which is owned by U.S. investment firm Cerberus Capital Management, has bought the property management unit of cooperative banking group Cajamar for 225 million euros ($306 million), the companies said on Wednesday…

    Source: Reuters

  • April 4, 2014

    Irish Government Sells Distressed Property Debt

    Ireland's National Asset Management Agency, the Irish government's "bad bank," Friday said that it had off loaded loans worth GBP4.5 billion ($7.47 billion) held by residents in Northern Ireland to Cerberus Capital Management L.P., at undisclosed discounts.

    The transaction marks Dublin's largest disposal so far of severely distressed bank loans that were hit by the country's huge property collapse six years ago…

    Source: The Wall Street Journal

  • April 4, 2014

    Sale of Nama Northern Ireland portfolio ‘great news for economy’

    The National Assets Management Agency (Nama) confirmed it had struck a deal on the Project Eagle loans with leading private investment firm Cerberus Capital Management.

    The loans involved original borrowings of £4.5 billion (5.5 billion euro) and were secured by assets in Northern Ireland, the Republic, Britain and other locations in Europe….

    Source: Belfast Newsletter

  • April 4, 2014

    Nama sells entire Northern Ireland debt portfolio

    …Northern Ireland first minister Peter Robinson said he had talks with those behind the deal, including former US vice president Dan Quayle, and said it was excellent news.

    “For some time I have made clear the danger to the local economy of leaving valuable assets undeveloped and the threat that these posed to otherwise profitable businesses. I believe that this deal can be of real benefit to our economy,” he said.

    Source: Irish Times

  • March 10, 2014

    Deal Offers Safeway Scope To Think Big, Act Locally

    …One thing Albertsons has done well under its private-equity owners, a group led by Cerberus Capital Management LP, is to give regional managers more voice in key decisions such as what products to stock, say analysts and industry consultants. That's an area in which Safeway has sometimes stumbled.

    Source: The Wall Street Journal

  • March 7, 2014

    Safeway tie-up offers clout in tough US retail environment

    ….But companies such as Safeway – which agreed on Thursday to be acquired by a Cerberus Capital Management-led consortium for $9bn – still provide the steady cash flows and valuable property portfolios that are attractive to investment groups.


    Source: Financial Times

  • January 1, 2014

    Banks could drive European deal flow

    Stress tests to be carried out by the European Central Bank in 2014 could well be a catalyst for further bank sales on the Continent.

    Stress tests by the European Central Bank (ECB) in 2014 could lead to even greater deal flow in Europe, according to Lee Millstein, senior managing director of Cerberus Capital Management.

    He noted that the ECB was on record as saying it would use stricter rules when stress testing banks’ balance sheets during its asset quality review in 2014, as it seeks to ensure banks have a capital ratio of 8 percent.

    “I think the big potential catalyst coming forward is the asset quality review and stress tests being conducted by the ECB,” said Millstein, who heads European and Asian distressed and real estate investments on behalf of Cerberus. “Banks are trying to get ahead of these tests, looking to sell assets that are deemed problem assets.”

    Source: PERE

  • December 24, 2013

    UniCredit Agrees Sale of Soured Loans to Cerberus Unit

    UniCredit SpA (UCG.MI) said Tuesday it has reached an agreement to sell almost 1 billion euros ($1.37 billion) in non-performing loans to Cerberus European Investment LLC.

    Source: The Wall Street Journal

  • December 7, 2013

    Lloyds trades Project East in two tranches to Cerberus and Deutsche Bank

    Lloyds Banking Group has sold the UK corporate loan portfolio, Project East, in two separate tranches to Cerberus and Deutsche Bank.

    Source: CoStar News

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