Composed of allocated properties, the largest of the portfolios has 5,000 million in allocated from the bank itself, while nearly 2,500 million are assets inherited from the extinct CAM.
The financial institution has already initiated contacts with several funds that may wish to keep the buildings that comprise the Coliseum Project and the Challenger Project, which is what the portfolios have been called, according to El Confidencial. Among the possible interested funds are the usual international investment firms, such as Apollo, Lone Star, Blackstone or Cerberus, all of them with a great appetite for Spanish real estate.
Through the real estate renovation plan announced at the end of last year, the bank plans to withdraw from its balance sheet approximately 12,000 million toxic assets, through various portfolio sales. At the moment, two portfolios of Sabadell are in the market since March, worth €3,400 million.
The company chaired by Josep Oliu ended 2017 with €8,023 million gross in foreclosed assets and 5,695 million in loan failures, according to the data that the entity sent to the National Securities Market Commission (CNMV).