Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Blackstone, Apollo, Lone Star bid for $34 Billion Banco Santander real estate portfolio

Blackstone Group LP, Apollo Global Management LLC and Lone Star Funds to submit bids for 51 percent of the assets by the last week of July; Spanish bank wants $5.7B for mix of loans, properties

(L-R) Stephen Schwarzman Blackstone,  Leon Black,   Apollo

The Spanish lender Banco Santander wants to sell a 51 percent stake in a staggering mortgage and property portfolio for $5.7 billion and identified the Blackstone Group, Apollo Global Management and Lone Star Funds as potential buyers, Bloomberg reported.

The portfolio encompasses around $34 billion, but many of the loans are troubled. Spain’s biggest bank paid 1 euro for the portfolio in June. E.U. regulators had previously warned that Banco Popular was “failing or likely to fail.”

according to Santander website, the bank said it would raise 7 billion euros in capital and dispose of Popular’s non-performing assets over three years. Those include 29.8 billion euros of property assets and soured real estate loans [Bloomberg]

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

cialis cialis satış