Sareb sells a portfolio of 23 tertiary assets for €235.4M

Sareb sells a portfolio of 23 tertiary assets for €235.4M

The Management Company for Assets Proceeding from Bank Restructuring (Sareb) has closed the sale of a portfolio made up of 23 tertiary assets for tourist use, mainly real estate and some loans with operating assets as collateral. The operation includes tourist apartments, aparthotels and hotels with a total of 1,729 rooms.

The award of these assets, with a net book value of more than 235 million euros, has been resolved after a competitive process open to specialized investors with the aim of maximizing their price. The assets included in the operation are located in the provinces of Murcia, Málaga, Valencia, Almería and Madrid.

These are assets that require specialized management that go beyond Sareb's strategic activities. Its operation would require having specific capacities in hotel and vacation management. "The hotel portfolio has a very low specific weight in the company's balance sheet and it is not possible to improve its profitability with its own investment or management", Sareb explained this Thursday.

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