The Frankfurt-based real estate markets team of NIBC Bank has signed an agreement to acquire a mortgage loan portfolio from German mortgage bank Allgemeine Hypothekenbank. The portfolio has a volume of EUR 490 mln. NIBC said in a statement that it is the first time that an international company has bought a German portfolio of non-performing mortgage loans. NIBC is a merchant bank focused on the mid-cap segment in Western Europe with a global distribution network. The bank has offices in The Hague, London, Brussels, Frankfurt, New York and Singapore.
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