This saree or ‘bad bank’, company in 2012 toxic real estate assets essentially old saving, has more than 133,000 residences in its portfolio, of which only 46,542 have been built. The organization, which the state took full control of a year ago, will negotiate with the autonomies and city councils to hand over up to 21,000 properties for social housing to fuel the plan announced by the Head of Government. Pedro Sanchez, and developed this newspaper.
Where is Sareb’s real estate?
This Valencian Community Collecting the largest proportion of Sareb homes and land, 22% of the total, mostly from former savings banks such as CAM, acquired by Banc Sabadell; Integrating with Bankia, Bancaja is now part of CaixaBank. they follow him CataloniaThe bulk of the defaults from the former Catalunñaa Caixa (today BBVA) and Caixa Laietana (Bankia, today CaixaBank) at 19.8% and Andalusia at 11.6% came from institutions like Caja Granada (now under CaixaBank) comes after various mergers and integrations). In total, the portfolio of this company is 133,314 properties. However, of this amount, only 46,542 are already built houses and 24,619 usable land. Only 15% of the properties and lands that form part of the Sareb portfolio are located in provincial centres, where rent is more expensive. And 70% of homes are in small cities.
How are properties distributed in Catalonia?
In Catalonia, Sareb portfolio includes 13,499 houses, 2,872 plots and 1,751 houses under construction. Most of these assets come from former savings banks. It is located in the province of Barcelona, where there are 2,872 plots of land and 1,751 real estate, of which 6,997 are under construction. There are 767 Sareb houses, 37 plots and 1 building under construction in the capital city of Barcelona. In the province of Tarragona, the portfolio includes 3,010 houses, 1,159 plots and 600 houses under construction. There are 169 Sareb properties and 12 plots of land in the capital of the province. In Girona, this publicly traded company owns 1,776 residences, 505 plots of land and 203 real estate under construction. There are 347 Sareb houses and 13 plots of land in the capital. In Lleida province, there are 286 houses, 66 plots and 15 properties under construction belonging to Sareb. In the capital of the province there are 286, 66 and 15, respectively.
How does Sareb sell real estate?
The publicly traded company announced a call for a competition for specialized companies to help evacuate homes and provide solutions to vulnerable families. In the same direction, since 2021, it has opened the sales and rental tenders of the real estates in its portfolio, for which Anticipa-Aliseda and Hipoges have undertaken the responsibility. For real estate development, it has had an alliance with the Árqura Homes broker since 2018. And as a result of tenders in 2021, it has a provider specialized in urban management (Serviland) and a provider (Domo) for the completion of work in progress. Servihábitat deals with affordable and social rent.
What is sareb?
Sareb was established in 2012 as a result of a dialogue between the Spanish State and European authorities to recapitalize the financial institutions that were hit hardest by the 2008 financial crisis. The company, whose main shareholder became the State a year ago, confiscated the impaired assets of these organizations. In 2012 and 2013, he bought a package containing nearly 200,000 problem assets, which included contractor and real estate loans, for a price set by the Bank of Spain: €50,781 million.
It currently still has assets of 27,716.1 million Euros, It should in principle be sold before November 2027, unless the government decides to extend its useful life. The problem is that the company is accumulating a hidden capital loss of 8,569 million as 61% of it is transferred to it at a price higher than its present value, which would cause a loss when selling the affected assets except for a seemingly complicated repricing.