Intrum, a Swedish real estate credit manager, has simplified its corporate structure in Spain by merging its servicers Haya Real Estate, Solvia, Aktua and HRE, which it will now group under a single brand.
Sector sources consulted by Europa Press suggest that this new parent company will be called Solvia Servicios Inmobiliarios, and It will monopolize all the activity of the four real estate companies.
This supposes around 170,000 assets of homes, premises, offices, garages, land, warehouses or storage rooms, with a value of more than 60,000 million euros.
Intrum began acquiring these companies in 2016, when through the Norwegian fund Lindorff, with which Intrum merged a year later, it acquired Aktua for 300 million euros, until then in the hands of the American fund Centerbridge.
In 2019 it was the turn to acquire Solvia from Sabadell, first 80% for 240 million euros, and three years later it reached 100%.
Subsequently, in September 2023, the Swedish listed company acquired 100% of Haya Real Estate from the American fund Cerberus for another 140 million euros, shortly after also purchasing it from HRE.
According to the latest Assets Under Management observatory prepared by Axis Corporate, Intrum continues to lead the ranking of servicers in Spain despite losing Sareb’s SMO (Simplification of the Operating Model) contract last year.
Nevertheless, In 2023 it continued its growth by obtaining the BEAT project from Caixabank, with approximately 30,000 new properties whose management has begun in 2024. In addition, the purchase of HRE in May 2023 allowed it to add 11,000 million euros to its management balance sheet.
Servicers are the companies that were created as a result of the 2008 financial crisis to manage the real estate assets of the banks’ former real estate subsidiaries, after the brick boom of the 2000s.
In addition to Intrum, the main servicers in Spain are Hipoges Iberia (from the KKR fund), Anticipa-Aliseda (Blackstone) and Servihabitat (Lone Star), the four totaling more than 142,000 million euros in real estate assets.
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