Tag: Altamira Asset Management

Altamira Appoints Vicente Aliño As Its New Director Of RE

1 June 2016 – El Mundo

Altamira Asset Management has hired Vicente Aliño (pictured above) as its new Director of Real Estate and member of the Board of Directors, as part of its commitment to strengthen its real estate business, according to a statement issued by the company.

The Group has explained that Aliño’s main challenge will be to lead the strategy, management and organisation of the entire real estate division, focusing on fulfilling the ambitious targets set by the company’s clients in the departments that make up the area.

Over the last 15 years, the new director has held different roles on Grupo Lar’s management team and he has extensive experience in the real estate sector, having served as the Group’s regional manager for Levante, leading the opening and development of the real estate business in Mexico and taking charge of the Group’s financial management.

Similarly, over the last six years, Aliño has worked as the group’s CEO in Brazil, where he defined the strategy, analysed investments and developed the business in the country.

In addition, the company explained that this appointment reinforces Altamira’s commitment to the real estate business.

Original story: El Mundo

Translation: Carmel Drake

Sareb Sold 30 Properties Per Day In H1 2015

19 October 2015 – El Mundo

Sareb is continuing to push ahead with its property sales. During the first half of 2015, the so-called ‘bad bank’ sold an average of 30 properties per day through the retail channel alone, according to results published by the organisation itself.

Specifically, during the first six months of 2015, Sareb sold 5,345 properties to retail clients. These operations were primarily concentrated in Cataluña (18.2%), Valencia (13.7%), Andalucía (13.4%), Madrid (13.2%) and Murcia (10%).

Sareb’s half-year activity report also describes the initiatives the entity has launched to create value in its portfolio. In this regard, it highlights the completion of six developments where building work had been suspended, in addition to 24 other developments that have been finished since the entity’s creation.

Moreover, in this sense, Sareb has resumed work at 11 other developments, which have required an investment of €5.2 million. In addition, the company has approved the development of 13 plots of land in Andalucía, Valencia, Cataluña, Galicia and Madrid.

Sareb’s total turnover amounted to €1,629 million during the first half of 2015, 10% less than in 2014. In this way, the ‘bad bank’ closed the first half of the year with losses before write-downs of €92 million, 23% less than those recorded in 2014.

Sareb notes that “the progress of the business has been affected by the gradual entry into force of of the asset management agreements with the new servicers (Altamira Asset Management, Haya Real Estate, Servihabitat and Solvia). “The laborious migration process”, it adds, “which was concentrated during the first half of the year, has slowed down the rate of sales”.

Looking ahead to the future, Sareb expects “an improvement in turnover during the second half of the year, given the recovery in real estate activity, the signing of institutional transactions and the commercial campaigns that it expects to launch before the end of the year”. In line with the evolution of the real estate sector, Sareb’s business also exhibits a seasonal component, which involves an increase in activity during the second half of the year.

Original story: El Mundo

Translation: Carmel Drake