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.