Bank repossession sale

[fifi]

51% of the Sareb (Spains bad banks) housing stock has been sold to HIG Capital. 129  were properties which were repossessed by Bankia in the Canary Islands . Sareb, which was set up late last year, recently reported that as of mid-July it had sold 1,800 property related assets - including real estate and loans to builders - and registered revenue of 900 million euros.

The bad bank's objective is to make 1.5 billion euros in sales this year.

http://higcapital.com/news/release/676