Balbec Capital acquires a 22 million euro secured NPL portfolio from Unipol ReC

Milan, 3 November 2021 – Balbec Capital LP, a private investment company operating on a global scale, has acquired from Unipol ReC a portfolio of secured NPLs worth €22 million with underlying real estate assets consisting of 50% accommodation facilities (mainly hotels and tourist residences) and the remainder residential properties. My Credit S.p.A., a company specialising in the valuation of NPL and UTP assets and portfolios, coordinated the origination of the transaction and will manage the portfolios as special servicer, using its method based on territoriality and its ability to bridge the gap between the financial and real estate worlds. This is the fifth transaction involving the collaboration between Balbec Capital and My Credit since February 2020, with a total GBV of nearly €60 million. Banca Finint has been chosen as the master servicer for the transaction.