Arbitrage provided drive-by valuation of 1,250 real estate collateral assets in Greece to National Bank of Greece. The assets were part of the mixed-use collaterals included in Project Frontier NPL portfolio.
The assessment was part of a sell-side commercial underwriting mandate with the aim to support the securitization needs of the c.€6bn NBG's Frontier NPL portfolio, consisting mostly of residential mortgages, SMEs and microbusiness loans.
During the assignment, our real estate advisors and valuers:
- Defined the key characteristics of each real estate asset
- Drive-by inspected all assets located all over Greece
- Identified their local property market and assessed the competition
- Conducted market research and collected comparable evidence
- For hotel assets, delivered cash flow models and analysis
- Determined the Market Value of all 1,250 properties
- Delivered 1-pager reports for all property assets assessed
As part of the exercise, Arbitrage provided also to the bank targeted real estate market research to the bank together with commercial commentary in relation to the pandemic impact on the local property market.
