06 January 2021
Banca Finint with Bayview in the first real estate securitisation Arya SPV: the transaction leads the way in the real estate securitisation market
Bayview, a Miami-based global investment fund manager, has carried out the first securitisation operation of the proceeds deriving from the ownership of real estate by exploiting the recent changes to the text of law 130/99.
The operation saw the establishment, by Banca Finint, of a vehicle company pursuant to art. 7.2 of Law 130/99 called Arya SPV, which issued partly paid ABS securities.
The platform aims to purchase a series of distressed and performing assets for an overall potential value of up to Euro 100 million and the related management, enhancement and sale.
Bayview Italia plays the role of Asset Servicer and Sub Servicer while Banca Finint is the Master Servicer, Computation Agent and Corporate Servicer of the operation.
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