The securitization Special Purpose Vehicle (SPV), also called 'The Issuer', is operating as a subsidiary of PROP Management SARL, and takes on the responsibility of issuing the underlying notes.
The SPV establishes compartments to segregate assets, thereby providing a safety net for investors in the case of a default. Although not an entity in itself, a compartment is a legally acknowledged administrative setup within the Securitization SPV to segregate one asset from the others.
The Real Estate Holding Special Purpose Vehicle (SPV) holds the title deed of the underlying asset that is being securitized.