Alantra advises Banco Santander on the sale of a € 200M Portfolio of Real Estate Owned assets to an Investment Fund

Jun 2023

Sell-side advisory

Madrid – Alantra has advised Banco Santander, S.A. (“Santander”), the second largest Spanish bank by volume of assets, on the sale of a Real Estate Owned Portfolio (the “Portfolio”) with a total appraisal value of c. €200M to an American Investment Fund. The transaction took place in Q1 2023.

The Portfolio comprises approximately 1,600 assets, with the majority being residential properties (79%). These assets are scattered throughout Spain and are at various stages of the workout process.

This transaction represents a unique process in the Spanish market, being the largest REO transaction year-to-date, and a key milestone for Santander, who consolidates its position as one of the most active sellers in the Iberian non-core asset landscape. The macroeconomic environment was dominated by a state of uncertainty surrounding interest rate hikes, high inflation, and fears of a slowdown in the global economy.

Joel Grau, Managing Partner at Alantra, commented: “Our team has strong expertise in the Real Estate space, we rely on local market knowledge and international reach, which are key drivers in delivering a transaction of this kind in such times of uncertainty. This transaction strengthens our position as advisors to Santander and as market leaders in Iberia.”

Alantra consolidates its position as advisor to Santander in a wide variety of asset classes having also acted as lead advisor to them on the sale of other REO, NPL Secured and NPL Unsecured Portfolios in the previous years.