5 July 2019 – Richard D. K. Turner
Sareb and Värde Partners have joined together to create Árqura Homes, with the goal of building 17,000 new homes. The joint-venture is the first of a series of invetsments that will employ a financial instrument called a FAB. This financial instrument was designed six years ago to facilitate the sale of non-performing bank assets. The structure confers specific tax benefits, primarily reduced taxes on the sale of such assets.
Sareb is currently planning a number of such vehicles for selling different types of assets, including hotels, shopping centres, offices and homes.
Original Story: El Confidencial – Ruth Ugalde