GA_P advises Servihabitat on Kutxabank’s RE portfolio management contract

Gómez-Acebo & Pombo has advised Servihabitat (a subsidiary of Lone Star) on the contract to manage Kutxabank’s real estate asset portfolio, valued at €1.2 billion

The bank’s portfolio is made up of 10,000 assets, concentrated in Andalusia and the Basque Country. Of this, 50% is residential and commercial, and the other half is land.

Iheb Nafaa, CEO of Servihabitat, explained: “Our commitment is to become a servicer with the guarantee of offering a quality service with a differential value that sets us apart from many other competitors. As a multi-client servicer with exclusive management capacity for our clients, and with nationwide territorial capillarity, we have been strategically reinforcing our structure to continue to be a benchmark in the sector.”

Neinor has held the contract until May 2022 for seven years but was eliminated in the process at the beginning of July. From that month, Servihabitat will take over for the next five years.

In 2020, Servihabitat closed 12.2 per cent more deals than in 2019. By 2021, it has focused its strategic plan on the management of land, mobilising land markets that will enable it to expand the supply of housing.

The GA_P´s Corporate team was formed by partner Augusto Piñel (pictured left), associate Irene Carreño (pictured top right) and paralegal Miguel Azpeitia (pictured bottom right).