Blackstone, Apollo are considering $34B Banco Santander real estate portfolio: report

Spanish bank wants $5.7B for mix of loans, properties

New York /
Jul.July 06, 2017 11:22 AM

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.

The portfolio encompasses around $34 billion, but many of the loans are troubled, Bloomberg reported. Banco Santander took over the portfolio in June when it bought the struggling lender Banco Popular Espanol SA for the symbolic price of 1 Euro. E.U. regulators had previously warned that Banco Popular was “failing or likely to fail.”

Santander is also including a 51 percent stake in property management firm Aliseda, which it bought last week, as part of the offering.

Blackstone has been an active investor in European real estate in recent years. Last year, the fund manager agreed to pay $3.6 billion for the German property owner OfficeFirst.  [Bloomberg]Konrad Putzier


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Seeding from recapitalization of 25 health care properties
KKR, Cornerstone in $1B JV to develop health care facilities
KKR, Cornerstone in $1B JV to develop health care facilities
The Broadway location of Halloween Adventure (Facebook via New York Costumes / Halloween Adventure)
Halloween Adventure to vacate East Village home as retail condo hits market
Halloween Adventure to vacate East Village home as retail condo hits market
Bluerock Residential CEO Robert Ramin Kamfar (Owler)
NY-based multifamily REIT Bluerock explores sale
NY-based multifamily REIT Bluerock explores sale
Turnbridge Equities founder Andrew Joblon, KKR co-founder Henry Kravis and the distribution center (Getty, Turnbridge)
Turnbridge, Dune land $381M loan for Hunts Point site
Turnbridge, Dune land $381M loan for Hunts Point site
Two more rent law challenges tossed, landlords reserve hope in appeal
Two more rent law challenges tossed, landlords rest hopes on appeal
Two more rent law challenges tossed, landlords rest hopes on appeal
Purchases across the country rose 0.7 percent in August, easily outpacing estimates by retail analysts. (iStock)
Big month for retail sales bodes well for landlords
Big month for retail sales bodes well for landlords
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...