Sareb opens a regional office in Andalusia

Sareb has launched a regional office in Andalusia to oversee activity and drive the divestment of its portfolio in the Canary Islands and Extremadura. This new office will help Sareb further fulfil its new regional plan to better understand its properties and adapt its supply to demand in each region.

Along with Andalusia, the company already has offices in Madrid, the Valencia-Murcia region, Catalonia, Aragón and the Balearic Islands. The new Andalusia office will be directed by Eduardo Valverde, former head of commercial real estate at BBVA, who will be supported by Juan Carlos de Castro, previously head of Commercial Monitoring at Sareb.

Andalusia accounts for 11% of the total value of Sareb’s property portfolio and 10.1% of its loan portfolio, secured by different types of properties. The Canary Islands account for a somewhat smaller proportion, 2.1% of the properties and 1.9% of the loans, while Extremadura accounts for 1.3% of properties and 0.8% of loans.