Market to be flooded with properties

Over 20,000 properties of all types are expected to come on the market in the coming years, either through direct sales or auctions, with an obvious impact on prices.

This concerns properties that constitute collateral in nonperforming loan portfolios that have been or will be sold in the coming months to investment funds and groups such as Apollo Global Management, Bain Capital and Centerbridge Partners; some of them have already hit the market.

Bain Capital made its first sales in July and it has already collected 35 million euros through the sale of significant buildings. The Boston-based private investment firm acquired the Amoeba NPL portfolio for 430 million euros. This portfolio includes some 2,300 properties as collateral. At this stage Bain is proceeding with the second phase of property sales to institutional or private investors.

Apollo is also...