Funds Strive to Purchase BBVA´s Anida

Bankia, Popular, Santander and Caixabank have sold their property management branches. Now funds desire Anida belonging to BBVA. According to sources from the sector, one of offers proposed by several funds is being taken under consideration. The bank refused commenting on the matter.

BBVA put its branch up for sale but is not in hurry to sell it whatsoever. (…) For that reason, transaction price may climb significantly. (…) The more that the bank is expecting considerable capital gains.

For example, Apollo paid €664 million to Santander for 75% of Altamira, Popular received €810 million from Värde Partners and Kennedy Wilson for entire Aliseda. Until now, BBVA and Sabadell are the only ones among the large banks that have saved their property management firms. (…).

Anida concluded the year 2013 with €1.25 billion losses.  However, the performance was better than the €4 billion lost in 2012, bringing the company a €671 million debt.

Throughout 2013, BBVA sold 14.390 properties (by 43.2% more), let alone the 6.993 transactions carried out on behalf of the third persons. Among them there is the famous sale of 1.000 units to the U.S. Baupost Group for about €100 million. (…).

In parallel, BMN, Cajamar and Liberbank are also negotiating sales of their real estate companies. (…).

In total, the banks earned €2 billion at successful sales.

Original article: Vozpópuli (Miguel Alba)
Translation: AURA REE

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Translation/Summary: aura