Santander Looks to Sell the Luxurious El Santo Estate in Madrid

16 October 2019 – The Santander Group is preparing to sell the well-known, 1,000-hectare El Santo estate, for potentially more than 50 million euros. The asset is in Aldea del Fresno, Madrid, and was owned until recently by the president of Sacyr, Manuel Manrique. Through its subsidiary, Altamira Real Estate, the banking group commissioned topographic studies of the property in preparation for the likely sale.

Mr Manrique originally acquired the estate in 2007 for approximately 52 million euros. The property extends through the municipalities of Aldea del Fresno, Navas del Rey and Chapinería. The estate is known for its hunting grounds and arable land, particularly for the cultivation of olive trees and cereals.

Original Story: Vozpópuli – Alberto Sierra

Adaptation/Translation: Richard D. K. Turner

“Anti-Eviction Law” Reveals that CaixaBank has 5,000+ Empty Homes in Valencia

7 October 2018 – Valencia Plaza

La Generalitat is pushing ahead with its count of empty homes in the hands of owners of large property portfolios in the Community of Valencia. Reporting of these types of assets is now mandatory under the Law for the Social Function of Housing – known as the Valencian “anti-eviction law”, – a text that was watered down by the Constitutional Court (CC) but in whose articles the Consell still retains the tools to demand the reporting of unoccupied assets and to impose fines in the event of a lack of collaboration.

The Valencian Government reactivated the count following the recent ruling from the CC. The most recent figure provided by the Conselleria de Vivienda amounts to 7,315 homes across the length and breadth of the Community: 45% in the province of Valencia, 38% in Castellón and the remaining 17% in Alicante. But the most striking fact comes from the analysis of the owners, given that a total of 5,270 homes are owned by the CaixaBank Group.

The bulk, according to data provided to this newspaper by the socialist Minister María José Salvador, corresponds to 5,065 empty homes reported by BuildingCenter, the company owned by CaixaBank “focused on the divestment of the portfolio of properties proceeding from the group”, according to the company’s own motto -. The remainder to arrive at the total of 5,270 units corresponds to 148 reported directly by Caixabank, 51 from Banco de Valencia, 5 from Credifimo and 1 from Gestión Fondos Credifimo.

Almost all of the homes owned by the group in the Community come from foreclosures made by the now extinct Banco de Valencia, which was awarded to La Caixa for €1 in 2012 under the framework of the bank restructuring. As a result, the data provided by CaixaBank to La Generalitat reveal that, six years later, the stock of assets proceeding from the extinct Valencian bank continues to be very bulky.

In addition to the empty homes reported by the CaixaBank group, the other properties to reach the total of 7,315 units are owned by Sareb (1,598 homes) and Grupo Santander (447), split into the companies Altamira Santander Real Estate (339), Banco Santander (67), Luri 6 SA (36) and Santander Consumer Finance (6) (…).

Register of uninhabited homes (…)

The law provides for the creation of the Register of Uninhabited Homes (…) so that all of the homes that are declared uninhabited by the administration can be grouped together and “housing solutions can be granted to those people who need them most”. The objective of the administration is to “mobilise the more than 500,000 empty homes that there are in the Community”, according to estimates.

Original story: Valencia Plaza (by Dani Valero)

Translation: Carmel Drake

Altamira Sells New Office Building In 22@ District To Family Office

1 February 2017 – Real Estate Press

BNP Paribas Real Estate has advised a Catalan family office on the purchase of a new office building located on Avenida Diagonal, 131 in Barcelona.

The property, which has a surface area of 3,150 m2 and 36 parking spaces, has been acquired from the real estate arm of the Santander Group, Altamira Asset Management, market leader in the sale of properties and in the valuation and construction of real estate developments.

The new building has been built in accordance with the highest quality requirements and has received an “A” energy rating, making it the only building with these characteristics in the 22@ district, the area marketed as the continuation of Barcelona’s Prime area. The family office behind this purchase will now put this new office building up for rent; it will make an ideal corporate headquarters in the Catalan capital.

This operation is further proof that the office market is experiencing one of its busiest periods since the start of the crisis. The purchase of newly constructed office buildings for rent is establishing itself as one of the preferred options for investors. This activity is expected to evolve continuously during 2017.

In addition to this deal, BNP Paribas Real Estate advised numerous high profile transactions during 2016, including several in the Catalan office investment market, such as the sales of the Gran Vía, 583 and Pere IV, 289 office buildings.

Original story: Real Estate Press

Translation: Carmel Drake