The bank headed by Antonio Ramalho sent the sales announcement of another real estate portfolio to investors. This portfolio includes 200 assets with a gross nominal value of €500 million, and the bank’s goal is to complete the deal until the end of June.

About two thirds of the portfolio correspond to land and some industrial assets, but there are also some residential and retail properties within. A source close to the process revealed to Jornal Económico that the majority these assets are concentrated among the districts of Lisbon and Setúbal.

This portfolio, that is the second sale relative to non-performing credit, is named Project Sertorius. PwC is advising Novo Banco in the operation.

Original Story: Jornal Económico | Marisa Teixeira Alves
Photo: Novo Banco
Edition & Translation: Prime Yield