Sareb completes the sale of another developer loan portfolio with a face value of €247 million

Sareb has sold a developer loan portfolio secured by real estate assets to an international investor consortium.

The portfolio, known as ‘Adra’, has a face value of €247 million and comprises developer loans secured by residential properties in Andalusia, the Balearic Islands, Cantabria and Valencia.

This sales process, which began in June 2018, met the strictest requirements in terms of transparency and fair competition. Colliers advised on the financial side of the sale and Herbert Smith Freehills (HSF) on the legal side.