The entity has decided to create a vehicle where it would place loans with real estate guarantee (NPL), where it would have a minority stake. In this joint venture, Sareb would place loans worth 10 billion gross, although the final number is not yet closed. It would be the biggest sale of Sareb since its constitution.
Sareb's aim is to give access to one or more financial partners in this new company and, to lead the negotiations it has hired the companies EY and CBRE, who have already initiated contacts with the main funds and international managers with investments in the Spanish real estate, to know their potential interest in this portfolio, initially called the Ebro Project.
The process is still in a first phase of analysis, with the aim of closing it in the second semester of the year or at the beginning of 2019.