Germany-based financial advisory group Silverton Group has acquired €16.5 million worth of non-performing commercial property loans (NPLs) in a single transaction as it continues to expand its services into directly managing assets for a number of its clients.
Since the firm was established almost a decade ago, it has provided financial advice to asset managers. The latest acquisition follows a trend for the firm of buying up assets that fall under the radar of its clients. In March, the firm purchased a €51 million NPL portfolio from an international investor – the first transaction of its kind it had completed.
Stefan Dolker, co-founder of the Silverton Group, declined to reveal the amount the NPL portfolio was purchased for and only revealed that it was acquired from a European-based investor. The NPL loan book is solely German and Dolker revealed that the firm is in the process of assessing two more transactions. Dolker said it will not go above ticket sizes of €60 million to €70 million.
“In the past, our primary focus was on providing transaction advice and asset management of loans secured on commercial property for other investors, in the future we will increasingly acquire and managed NPL portfolios ourselves,” Dolker said.