The sale of a commercial real estate bad bank by the Netherlands will begin in January next year.
Propertize, the former SNS REAAL property finance division, will be auctioned in the first week of 2016.
The company, which earlier this year appointed Lazard as adviser, said interested parties would need to include a complete refinancing as part of their offer.
Propertize said it achieved good results during the first nine months of this year, with its gradual wind-down seeing just under €1bn of assets sold in the period.
The figure compares with €471m in the same period in 2014.
The company now has a €3.92bn exposure to real estate, compared with €4.9bn in December last year.
Propertize said it paid back all of its debt to foreign banks, which stood at €227m at the end of 2014.
SNS REAAL was nationalised in early 2013 as part of a €10bn rescue package by the Dutch government, having been given €750m in state aid following the global financial crisis in 2008.
