On Friday, Merlin Properties announced the sale of the Tree portfolio, comprising almost 700 bank branches, to BBVA. The financial entity will pay 1.99 billion euros for the properties.
At the end of last year, the Socimi led by Ismael Clemente put up for sale the portfolio of bank branches leased to BBVA. The portfolio was the first purchase made by the Socimi after it went public. It comprises 662 branches in total, for which it hoped to receive around €2 billion.
Read the full article in Spanish.
