DebtX Selling $147MM in Euro-denominated NPLs

Loan sale advisory firm DebtX, Boston, plans to sell through two separate sales a total of 108 million euros ($147 million) in nonperforming real estate loans from financial institutions in Germany. The first sale involves 94 million euros ($128 million) in nonperforming commercial real estate loans from throughout Germany and is scheduled to take place on April 23. The second involves 14 million euros ($19 million) of nonperforming loans secured primarily by residential real estate in East Germany and it is scheduled to take place on May 14. The company expects to hold additional European loan sales in coming months as more financial institutions in the euro zone seek to sell the assets rather than managing them through prolonged workouts, said DebtX managing director Gifford West.