LOANCOS Group strengthens its NPL division with Thomas Spulak

17. Oct 2023

LOANCOS Group strengthens its NPL division with Thomas Spulak

  • Difficult times for commercial real estate
  • Increasing demand from financiers

The LOANCOS-Group is the largest independent platform for real estate loans in Germany. It is now expanding its long-standing services in the area of non-performing loans (NPL) and special situations for commercial real estate and alternative asset portfolios. It has appointed Thomas Spulak as the Executive Director of its subsidiary, Proceed Portfolio Services GmbH.

Proceed Portfolio Services is a long established provider of commercial real estate financing restructurings and comparable special situations. With more than 20 years in the industry Thomas Spulak has extensive expertise in this field. Before joining Proceed Portfolio Services GmbH, he worked successfully as Managing Director of Corevestis Portfolio Management on comprehensive restructuring solutions for commercial real estate financing. He holds an MBA from the University of Regensburg and is a DVFA/IREBS Certified Real Estate Investment Analyst.

“We are delighted to welcome Thomas Spulak to our team,” says Eckhard Blauhut, CEO of LOANCOS. “His experience and expertise will make a decisive contribution to successfully placing Proceed in the area of high-risk, large-volume loan commitments and achieving the best possible solutions for our clients. The situation on the commercial real estate market has become more difficult: Many business plans are faltering due to falling prices and dwindling demand. Financiers are already increasingly asking for restructuring services.”

Tilo Knebusch, Managing Director of Proceed Portfolio Services GmbH: “I am looking forward to working with Thomas Spulak and am convinced that he is the right reinforcement to reach an even broader base and meet demand in the area of restructuring.”

“I am looking forward to being part of the LOANCOS team and supporting the customers of Proceed Portfolio Services GmbH in a constantly changing market environment in the best possible way,” explains Thomas Spulak.

Independent unit of the LOANCOS credit platform

Proceed Portfolio Services GmbH will actively develop and implement restructuring concepts for distressed financings. Dr. Clifford Tjiok, CCO of LOANCOS: “Proceed has been using its experience in dealing with non-performing loans for 25 years. It has the necessary tools, processes and systems to find good solutions, especially in difficult situations. It has been able to prove this in recent years: In the NPL environment of commercial real estate financing, we had the most transactions on the table on the market. Our binding restructuring approach also makes it possible to get fresh money and investment capital into a transaction so that, depending on the situation, a targeted recapitalization or a take-out can take place. These are the solutions the market needs now.”