The known as ‘Banco Malo’ slows marketing at least until July
Sareb will paralyze from tomorrow until June 30 the marketing and sale of “all real estate assets that can be part of the state and social rental housing park.” The decision has been taken this Thursday during a meeting of the General Board of Shareholders (the State through the FROB is its largest shareholder), in which the board of directors has been agreed to instruct the board of directors to coordinate with Sepes and with the competent ministerial departments, “work in the alternatives that allow Sareb to collaborate in the generation of the State Park of Social or Ashequible Rental Housing,” according to the entity to the CNMV.
Sareb has been released until June 30 because that is the date on which the entity must submit a strategic plan at the General Meeting of Shareholders where the conditions and number of assets that will be transferred to Sepes are deducted, the public land entity to which the Government has given the category of state housing company. The idea is that the bulk of the residential properties that Sareb has in the portfolio end up being transferred to Sepes, around 40,000, the government slid last January.
But the entity created in 2012 to absorb the toxic assets of the brick crisis must study the appropriate formula to do so without neglecting its mandate to repay debt to the State, when around 30,000 million are left to liquidate. Last year he already admitted that some 15,000 were not going to be recoverable and the forecast is that in 2027 Sareb lowers the blind forever.
In 2023, Sareb managed to leave 10,500 homes, at an average price of 90,000 euros, 90% of them purchased by individuals. With them they entered 820 million euros. The ‘SERVICERS’ Aliseda/Anticipa (Blackstone) and Hypoges (KKR) are responsible for their marketing, who have a valor management contract until June. According to market sources, the forecast is to execute the extension of the contracts and that both continue to sell other assets of Sareb such as soils, hotel real estate or concrete skeletons inherited from the real estate bubble.
(There will be extension).
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