Spanish lender Cajamar has reportedly hired Alantra to manage the sale of the so-called Project Jaguar, a €300 mln residential real estate portfolio.
According to a news report by El Confidencial, the sale representing roughly 11% of the bank’s property assets is part of the lender’s plans to reduce exposure to non-performing as well as property assets.
Also this week, lender Kutxabank is believed to have launched the sale process for its 30% stake in the Iberdrola tower in Bilbao. Kutxabank hired broker Savills to manage the disposal of the building, which is understood to be worth some €250 mln.
Designed by architect César Pelli, the 165-metre-high skyscraper was completed in 2011 and is mostly dedicated to offices. Iberdrola currently owns 70% of the asset and is its largest occupier.
