Altamira Completes Migration Of 28,000 Properties From Sareb

18 August 2015 – Expansión

Altamira has successfully completed the migration of 28,000 properties, which were originally transferred to the bad bank from Catalunya Caixa, Caja 3 and BMN.

In a statement, the company said that this operation has been carried out in three phases and has now been completed successfully, in accordance with the timetable agreed with Sareb.

The new properties incorporated into the platform carry ‘Sareb’s Seal of Assurance’ and expand Altamira’s offering, especially along the Mediterranean Coast.

The company has started to market the properties through its website. 30% of the homes are located in the province of Barcelona and the city of Barcelona itself accounts for 4% of all the residential properties for sale. With this operation, cities such as Zaragoza, Valencia, Sevilla, Málaga, Alicante, Murcia and Madrid “significantly” increase their respective supplies.

Following this migration, Altamira will have assets under management amounting to €55,000 million, making it “one of the leading companies in the sector in terms of size, with clear strengths in terms of its independence and its multi-client platform”, according to the company.

This operation strengthens Altamira’s strategy, which is based on diversification and growth. Until the end of 2014, the bulk of the company’s assets under management had originally come from Banco Santander, although it was also managing products from three other clients in the SME and financial asset segments, in which Altamira specialises.

In order to provide a better service, Altamira has developed a new technologically-operational multi-client platform, focused on the integrated real estate market and built around the company’s website, which has the capacity to manage a variety of assets, ranging from land, to new developments and second-hand properties.

Original story: Expansión

Translation: Carmel Drake