6/02/2014 – El Mundo
Juan Barba, Real Estate Assets manager from Sareb, tells about the company´s budget for 2014 in the following words: “It will not be written in stone. There will be variations both in volume and margins of the awarded assets, all depending on the market evolution”.
(…) If it comes to rents, Barba says they will be “crucial” for Sareb while trying to achieve the maximum profitability. (…).
On the other hand, the director explains that commercialization of its assets at the valid market prices would be for the bad bank “idyllic”. Moreover, enacting a price policy is “not easy whatsoever”.
Right now Sareb prepares portfolios that probably will be commercialized from Easter time on, and by then the entity “will not show much activity”.
“NO” to Any Price
Talking about streamlining strategy of Sareb for 2014, the bad bank made it clear that one of them will be directed towards rent management, not only residential but also office and industrial type.
Yet the company has not allocated the four office buildings in Madrid embraced by the Corona Operation and valued at €80 million.
Sareb, however, does not aim at selling “at any price” (…).
This way, the entity rubs hands for earning several million Euros per month, coming just in time to pay debts. Also, Barba points out that many funds are interested in Sareb´s portfolios.
Sareb´s future lays in the market movements´fate. Especially, investment intensity will have a decisive influence on the bad bank, if its volume copes with the financial institutions´deleveraging.
Original article: El Mundo
Translation: AURA REE