Tramontano (My Credit), new waves of Npl on real estate
Mirko Tramontano was interviewed by @Dealflower about the near future of NPLs (non-performing loans) in real estate.
In fact, according to data from Banca Ifis, it cannot be ruled out that between the end of 2023 and the beginning of 2024 there could be a further influx of NPLs in the real estate sector. Hypothesis also confirmed by Mirko Tramontano during his interview, according to which the impact on the real estate market will mainly relate to the liquidity of assets.
Today My Credit has increased its portfolio by an additional 150 mln Gbv, while in the pipeline is the 'analysis of about 300 mln additional. "The trend is very positive because we are moving toward a direction of expansion with significant volumes. However, we are trying to achieve not so much an increase in volumes as an end in itself but a balanced growth while maintaining a high attention in the analysis of the underlying of the credits we are going to acquire," Tramontano commented.
To read the full interview: https://dealflower.it/tramontano-my-credit-nuove-ondate-di-npl-sullimmobiliare/
My Credit growing steadily: acquired 5 portfolios and started 6 new projects between 2021 and 2022 for a GBV of €130 million
Milan, September 20, 2022 - My Credit Spa, a company specializing in the valorization of NPL and UTP Secured assets and portfolios, with an innovative proprietary management method based on territoriality and the ability to act as a bridge between the financial and real estate worlds, continues its growth in asset management by confirming a positive trend that has seen the acquisition of 5 new portfolios in 2021 and the start-up of 6 additional projects in the first half of 2022 alone, for a total GBV value of €130 million, thanks also to the consolidated collaboration with Balbec Capital.
In particular, the purchase of portfolios and assets worth over €75 million from the primary market and over €55 million from the secondary market, among others, was finalized.
My Credit finalizes €3 million capital increase and appoints new board of directors
My Credit has completed the increase of its share capital by an additional 3 million euros, with the entry of new major partners among individuals, businesses and international investors.
Last July 7, the shareholders' meeting also appointed the new Board of Directors with the reappointment of Mirko Tramontano and Dario Bettinelli as Managing Directors, as well as Andrea Cavaliere as Director.
Mirko Tramontano said, "My Credit's innovative approach continues to attract the interest of investors, partly as a result of the excellent results achieved. In the coming months we expect the volume of investments to increase and the acquisition and management of larger and larger portfolios."
MyCredit closing the gap between finance and real estate | Mirko Tramontano interviewed by Dealflower
Dealflower interviewed our CEO Mirko Tramontano about the NPL and UTP scenario, retracing the history of MyCredit and displaying forecasts about the market.
My Credit to Sponsor the SmithNovak NPL Iberia 2021 international summit
My Credit is pleased to announce that we are a sponsor of SmithNovak's NPL Iberia 2021 international summit taking place on the 25th of November 2021 in Madrid at the Princesa Plaza Hotel. (More info here)
SmithNovak is the premier event organiser for NPL events in Europe and host key events in London, Athens, Milan and Madrid (see events here).
For more information visit the event web page at https://www.smithnovak.com
NPL Iberia 2021
25 November 2021
Princesa Plaza Hotel, Madrid
Balbec Capital acquires NPL portfolio from Unipol ReC for EUR 22 million
Milan, 3rd November 2021 - Balbec Capital LP, a private investment company operating on a global scale, has acquired from Unipol ReC a €22 million secured NPL portfolio composed of 50% accommodation facilities (mainly hotels and tourist residences) and the remainder of residential properties.
My Credit S.p.A., a company specialized in the valorization of NPL and Utp assets and portfolios, in addition to having coordinated the origination of the transaction, will manage the portfolios as special servicer, through its method based on territoriality and its ability to act as a bridge between the financial and real estate worlds.
This is the fifth operation that sees the collaboration between Balbec Capital and My Credit since February 2020, for a total GBV value of managed that is close to 60 million euros.
The master servicer chosen for the operation is Banca Finint.
Balbec Capital assisted by My Credit acquires assets from Unipol, Cassapadana and Centropadana for EUR 7 million
My Credit will manage the portfolios as special servicer
Milan, 8th September 2021 - "Andromeda" is the name given to the transaction that led to the acquisition of three NPL portfolios by Balbec Capital LP, a private investment company operating on a global scale. My Credit S.p.A., a company specialized in the valorization of NPL and Utp assets and portfolios, in addition to having coordinated the origination of the transaction, will manage the portfolios as a special servicer, through its method based on territoriality and its ability to act as a bridge between the financial and real estate worlds.
The master servicer chosen for the operation is Banca Finint.
The three portfolios, mainly secured with underlying residential real estate, have a total GBV of 7 million euro.
Transferring banks: Unipol ReC, BCC Cassapadana, BCC Centropadana.
MyCredit: "Home is back to investing"
The CEO of MyCredit Mirko R. Tramontano was interviewed by Massimiliano Del Barba for the newspaper "Corriere della Sera "
The city of Brescia - the current scenario of the real estate market.
The economic gap reinforced by the pandemic situation has in fact given a new shock to the real estate market, with an increase in demand for real estate stimulated by the new economic needs of a middle class in difficulty, also thanks to the new bonuses and incentives.
Capital with My Credit for the acquisition of an NPL portfolio from BCC Centropadana
Milan, February 4, 2021 - Balbec Capital LP, a private investment company operating on a global scale, has acquired through the securitization vehicle Duomo SPV, a portfolio of NPL loans for a GBV value of € 5,200,00.00 from BCC Centropadana.
The portfolio, consisting of mainly secured loans with underlying real estate, will be managed entirely, as a special servicer, by My Credit SpA, a company specialized in the valorization of NPL and Utp assets and portfolios, through the management method based on territoriality (over 1100 brokers active in Italy) and the ability to manage a combination between the financial and real estate world.
The master servicer chosen for the management of the portfolio is Banca Finint).
Here attached the press review