We received some 200.000 assets valued at €50,781 million, of which 80% were developer loans and 20% real estate assets
Between 2013 and 2017, Sareb contributed €23,248 million to Spain's Gross Domestic Product (GDP), equating to 0.42% of the total amount of goods produced and services provided in Spain during this period, according to the Report on the Socioeconomic Impact of Sareb, published by EY.
How do we sell?
We have delegated the management and sales marketing of our assets to Altamira Asset Management, Haya Real Estate, Servihabitat and Solvia, each of whom have an extensive sales network.
However, there are some asset transactions involving, for example, syndicated loans, land, offices and retail units that are highly specialised, and are consequently sold directly through Sareb.
Institutional sales are marketed via competitive sales processes in which specialist investors are segmented and selected. We also benefit from a wide range of flexible sales tools such as Banks Asset Funds (Fondos de Activos Bancarios - FAB)
Are we meeting our objectives?
We are meeting the objectives that we were assigned as part of the bank restructuring process: we are helping to clean up the Spanish financial system, reactivating the real estate market and attracting foreign capital. During the five years we have been operating, we have sold over 65,000 properties and made €12.8 million of savings for public funds thanks to debt repayments.
Who are we?
We are a divestment company, mandated to manage and sell the assets transferred from the banks that received state aid. When Sareb was founded, our portfolio was primarily comprised of property development loans (80%) and properties (20%) that were acquired from these banks for €50,781 million.
Are we a bank?
We are not a bank; we are an asset management company. We do not have a banking licence, hence we do not provide mortgages, nor do we operate as a bank. Our mandate is the sale of the assets transferred by the banks that received state aid.