Reported 8 months ago
Banco Santander SA is selling a portion of its Spanish commercial real estate assets to capitalize on the tourism upsurge post-pandemic. This move includes selling around €300 million in hotel loans to Polus Capital Management and considering the disposal of a similar-sized portfolio of commercial real estate assets. By taking advantage of the anticipated tourism boom in Spain, Santander aims to clean up its balance sheet and reduce debt amidst challenging market conditions.
Source: YAHOO