12/29/2017

Sareb sells a loan portfolio to Oaktree for a par value of EUR150 million

Sareb sells a loan portfolio to Oaktree for a par value of EUR150 million

Sareb has completed the sale of a loan portfolio for a par value of EUR150 million to Oaktree, known by the name ‘Tambo’.

The loans are secured by plots of land and residential assets in Baleares, Canarias, Catalonia, Madrid, Valencia and The Basque Country.

The transaction was completed after carrying out a competitive tendering process, which allowed it to maximise the value of the assets. It was also carried out to meet the strictest transparency and competition requirements.

Sareb was advised by CBRE and Ashurst, whereas JLL and Herbert Smith Freehills have advised Oaktree.