16 March 2016 – Reuters
On Tuesday, the so-called Spanish bad bank said that it has sold a package of loans with a nominal value of €73.7 million and secured by assets located in the provinces of Madrid, Barcelona, Cáceres and Tarragona.
68% of the assets are industrial-logistics properties, 26% are hotel and tourist assets and the remainder are offices, said Sareb in a press release.
This sale is the first institutional operation that the company has closed in 2016, in a segment of the market “that is beginning to show signs of recovery, following others, such as the residential and land segments”, said Sareb.
The Spanish bad bank was constituted at the end of 2012 by way of consideration for the aid package, amounting to €41,300 million, granted by the European partners to Spain for the clean up of its financial system.
Original story: Reuters
Translation: Carmel Drake