Sareb Seeks a Manager to Finalise 5,600 Homes Worth €300 Million

The company wants to finish work on 205 developments that have already been started so that it can then sell the homes one by one.

The Company for the Management of the Assets Proceeding from Bank Restructuring (Sareb) is looking for a manager to complete the construction of 5,600 homes, most of which are already underway. The portfolio is valued at around 300 million euros, but that figure could increase to 570 million euros with the upcoming addition of new assets.

The company wants to finish work on 205 developments, which have already been started, before selling them on to end customers. For this reason, the so-called “bad bank” has started a process to select a manager specialising in the completion and commercialisation of work in progress projects, according to El Confidencial.

Read the full article in Spanish.