Sareb has made further progress in the sale of its assets via the sale of the Walls portfolio to Deutsche Bank. The portfolio is comprised of five loans to different companies representing a nominal value of €100 million euros. This transaction is part of a larger project, known as Indigo, in which Sareb has put together medium sized loan portfolios for sale to the market.
The loans in the Walls portfolio are secured by office buildings and hotels located in prime areas of Madrid, Barcelona, and Valencia. As in previous transactions, the process has complied with the highest level of transparency and competition.
Law firm Broseta acted as legal adviser for Sareb. Deutsche Bank completed the transaction in conjunction with Madrid-based Magic Real Estate and received legal advice from Dentons.