Supported by WilmerHale, the German federal government's winding-up institution FMS Wertmanagement has sold a US commercial real estate loan portfolio with a nominal value of USD 1.2 billion. FMS Wertmanagement was founded in 2010 in order to take over risk positions and non-core business divisions from the Hypo Real Estate Group.
The loan portfolio, which was sold in a strictly controlled auction, is made up of a total of 15 transactions and collateralized by office buildings, shopping centers and hotels located in various metropolitan areas in the United States.
The sold portfolio mainly includes performing loans. FMS Wertmanagement took advantage of the currently favorable market conditions in the United States against the background of strong liquidity and heightened investor interest to reduce its overall portfolio volume ahead of schedule. The sale was preceded by a highly competitive bidding process managed by the US broker CBRE.