Spain’s Santander to acquire a stake in a U. S. real estate portfolio for $1. 1 billion
MADRID (Reuters) -Spain’s Santander on Wednesday said it bought 20% of a U.S. real estate portfolio for $1.1 billion from the Federal Deposit Insurance Corporation (FDIC), which will retain 80% in a joint venture with the bank. Under the deal, Santander will service 100% of the assets in the portfolio. The $9 billion portfolio of New York based multifamily real estate assets was in the hands of the FDIC following the failure of Signature Bank in the United States earlier this year.
Spain’s Santander to acquire a stake in a U. S. real estate portfolio for $1. 1 billion Read More »