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Spanish bank Bankia has made a €180 million portfolio of non-core loans available for sale, according to a report in Spanish newspaper Expansión, Real Estate Capital's sister publication Private Debt Investor reported.
Deutsche Bank has added to its Spanish real estate debt exposure with the purchase of a portfolio of development loans with a face value of around €400 million.
Oaktree Capital Management and hedge fund Chenavari are buying three loan portfolios worth a total of €1.3bn from Spain’s Bankia. The two investors have split Bankia’s €918m Portfolio Mast, which comprises of 4,300 unpaid residential mortgages with an average value of €214,000, made to individuals in Catalonia, Madrid and Valencia.
Spain's bad bank, Sareb, is selling a €561m portfolio of resort assets and loans, the legacy of developer Polaris World. Project Birdie includes three golf courses, two five-star hotels and 2,146 residences and land in Murcia.
Santander is selling a €170m portfolio of hotel loans, Project Formentera. The loans are backed by 17 properties located across Spain. Twelve of the 17 hotels are in the southern city of Valencia and tourist hotspot the Canary Islands.
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