Real estate securitisations,
Reoco and Leaseco
Real Estate securitisations
The recent amendments to the Securitization Law 130/99, introduced with the “Budget Law 2019”, allow SPVs to be able to directly purchase real estate and registered movable property by securitizing the proceeds derived from them. Zenith provides its standard services, from the establishment of SPVs with exclusive corporate purpose to the administrative, accounting and corporate management, to the Master Servicer, Calculation agent and Representative of the Noteholders. The management of the real estate assets are delegated to a specialized Asset Manager with proven experience.
Reoco and LeaseCo
Zenith provides its services in setting up and managing Real Estate Owned Companies (“Reoco”) and LeaseCo in the context of securitizations of non-performing loans secured by real estate and non-performing loans arising from leasing contracts, respectively. The purpose of these companies is to maximise the recovery of these receivables by directly acquiring the assets. Zenith sets up these companies by providing its own independent director and its administrative, corporate, accounting and tax management services.