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Santander Launches a Real Estate Company, Landco, With Land Worth €4.5 Billion

The financial entity has completed the launch of its land management company Landmark (now Landco), which owns 13,000 assets including developable and rustic land and plots under development.

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Santander has taken another step forward in the active management of its real estate exposure. In this case, after handling the integration of its servicing services, launching its own non-performing real estate asset manager and purchasing a Socimi that owns bank branches, now the financial institution chaired by Ana Botín has completed the process to create its own land manager: Landco (formerly Landmark).

The new real estate agency has received 13,000 assets from Santander, with a gross value of 4.5 billion euros, located in 3,500 different urban areas. Almost half of the land (45%) is for final use, whilst another 40% corresponds to land under management and the remaining 15% is rustic.

Read the full article in Spanish.

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