A small number of huge investment funds are becoming the owners of the property portfolios that were held by the banks and not transferred to SAREB, the Spanish ‘Bad Bank’. These are the better properties that the banks felt had hope for increasing value and even a profit when the market came back. So hopefully these funds have greater property expertise, but now they, as they group individual bank’s already large portfolios, are the real masters of the Spanish property market.
Are they large enough to start granting mortgages or has the deal included all mortgages being controlled by the selling bank? The funds now have significant influence on the country’s economic and social policies. Interesting!
Read more HERE