The portfolio we received
Between the end of 2012 and the start of 2013, a portfolio valued at €50,781 was transferred to us, with the mandate to gradually sell off the assets within a maximum period of 15 years.
The portfolio comprised financial assets, with 80% relating to loans that the distressed banks had granted years before to developers to carry out real estate projects. More than 90,600 of those loans were secured by 400,000 properties.
The remaining 20% corresponded to 107,000 properties, of which half were both finished and unfinished residential and ancillary properties (storage units and parking spaces). The rest of the real estate portfolio comprised land, both greenbelt and under development, retail units, hotels, industrial assets, etc.
To date, our business activity has allowed us to reduce our portfolio to €33,636 million.