Archive for September, 2013

Foreign interest in Spain on the increase

Friday, September 13th, 2013

Foreign interest in Spain is on the increase. The “El Economista” news web site, highlights that in just over a month, various international funds in Spain have invested about €515 million through the purchase of properties in the banking sector. Also, if we add the Evo acquisition by Apollo or the entry of American entrepreneurs and David Martinez Jaime Gilinski at Banco Sabadell, to these transactions, the foreign stake for Spain amounts to 1,200 million in just five weeks.

The Sareb, “bad bank”, wants to take advantage of this situation and, according to Expansion, a Spanish financial newspaper, it has released a package of loans from Bankia and and NGC valued at €350 million. The newspaper also stresses that “the transaction has generated interest in the market and could be closed in just two months” and points out that candidates to take loans include international funds such as Cerberus, Fortress, Apollo, Blackstone and HIG. It also adds that Sareb has seven office buildings for sale in Madrid for €450 million.