Spanish property company Reyal Urbis sold property assets worth EUR 1.6 bn to unnamed banks in the course of 2008, the company said in a statement to the local stock market regulator. The sales were part of a refinancing agreement for about EUR 3 bn of corporate debt which the company reached with tis creditor banks in October 2008. The disposals account for over 80% of the group's 2008 revenues of EUR 2.2 bn. The assets consist primarily of housing developments and plots of land in the country. Reyal Urbis currently has assets worth EUR 5 bn.
Spanish property company Reyal Urbis sold property assets worth EUR 1.6 bn to unnamed banks in the course of 2008, the company said in a statement to the local stock market regulator. The sales were part of a refinancing agreement for about EUR 3 bn of corporate debt which the company reached with tis creditor banks in October 2008. The disposals account for over 80% of the group's 2008 revenues of EUR 2.2 bn. The assets consist primarily of housing developments and plots of land in the country. Reyal Urbis currently has assets worth EUR 5 bn.
