Spanish bank BBVA is close to completing the sale-and-leaseback of its entire real estate portfolio worth a total of EUR 2.6 bn, PropertyEU has learnt. The bank, which was rumoured in June 2008 to have put its real estate on the market, is understood to have hired CB Richard Ellis to market the sale of the assets, located throughout Spain. The transaction is expected to be completed in the first quarter of 2009, according to well-informed sources. The shortlisted buyer for the portfolio is believed to be an international cash-rich investor, while the financing is being provided by a Spanish bank consortium.
Spanish bank BBVA is close to completing the sale-and-leaseback of its entire real estate portfolio worth a total of EUR 2.6 bn, PropertyEU has learnt. The bank, which was rumoured in June 2008 to have put its real estate on the market, is understood to have hired CB Richard Ellis to market the sale of the assets, located throughout Spain. The transaction is expected to be completed in the first quarter of 2009, according to well-informed sources. The shortlisted buyer for the portfolio is believed to be an international cash-rich investor, while the financing is being provided by a Spanish bank consortium.
