Over the next few weeks, Bankia should complete the sale to Blackstone of a non-performing developer credit portfolio with a gross value of €300 million.

According to the digital newspaper voxpopuli.com, the Spanish bank headed by José Ignacio Gorigolzarri had planned to disposal of non-performing assets spread in three different portfolios by the mid of this year, stressing out that this portfolio Bankia is now selling to Blackstone is the largest of those the bank is planning to sell over the first half of 2019 first.

The same source notes that with this acquision, the North American volture fund continues to increase its real estate portfolio in Spain. Over the last five years, Blackstone has already invested around €24,0 billion in Spain, most of which in the acquisition of mortgage credit and real estate assets, including hotels and offices complexes.

Original Story: El Boletin | E.B.
Photo: Bankia Site
Edition:Prime Yield