London-based Colony Capital has purchased a portfolio of institutional real estate collateralized non-performing loans (NPL) with a face value of €370 million, Private Equity Hub reports. The portfolio was sold by four German banks, including Eurohypo, Helaba LandesbankHessen-Thüringen, Berlin Hyp and Archon Capital Bank.
These loans were utilized to develop properties primarily in Berlin and Frankfurt in the mid- to late 1990s. Since the end of 2009, the Los Angeles-based international investment firm has made four NPL portfolio acquisitions in Germany.
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