Previous Next
Oaktree buys Sdin Residencial for €882M
06 August 2019 | Vanessa Sousa

American asset manager Oaktree closed the purchase of Sdin Residencial, for 882 million euro from Banco Sabadell.

Foto

The information was announced by the bank through the Comisión Nacional del Mercado de Valores (National Securities Market Commission). The release mentions that this transaction «will generate returns estimated at 23 million euro after taxes this year with a positive impact on the capital ratio of the Common Equity’s Tier 1 (fully loaded) of 7 basis points».

For now, the operation is «subject to attaining the relevant permits», mentions the same document published this Monday.

Once the operation is concluded, Oaktree will be managing a 1.000 million euro, 2.4 million sqm portfolio with 300 urban terrains, according to Eje Prime.

Other companies such as Goldman, Cerberus, Lone Star and Apollo also took part in this race for the acquisition of the real estate developer which took place between March and July.