This article was written and published in Spanish and has been translated into English via Google Translate. Click
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The bank and the investment fund injected 292.8 million euros to Project Quasar Investment in 2017. Santander Group inherited from the Popular 49% of the real estate, whose portfolio has a gross value of 30,000 million euros.
Banco Santander and Blackstone begin to cut the last fringes of the sale of the Popular brick by the financial company to the fund. In this process, both companies have decided to inject 300 million euros to Project Quasar Investment, the joint real estate company that they created this past March for the transfer of the 30,000 million in assets that the bank transferred in 2017 last summer.
In real estate, Blackstone owns 51% of the company while Santander owns the remaining 49%. The constitution of the company was made with the investment of a minimum social capital of 3,000 euros and is part of the mercantile steps that both entities need to make to close the operation, as reported by El Economista.
In addition to the majority of Popular's brick, the US fund bought Santander Aliseda, the servicer of the extinct bank, with which it will pilot the sale of the assets acquired. Part of this portfolio management process explains that Quasar has named Diego San José, a strong man in the real estate department of Blackstone in Spain, as president.
Along with San José, Eduard Mendiluce, CEO of Anticipa Real Estate, the manager of the North American fund, will work for the development of the real estate agency; Christophe Dubois, General Manager of Real Estate at Blackstone in London; as well as the president of Fidere Patrimonio, Jean François Pascal.
While, on the side of the Santader, have entered the company responsible for the real estate area of the bank, Javier García Carranza Benjumea; Jaime Rodríguez Andrade, director of unproductive assets of the financial company; and Carlos Manzano, board member appointed by Santander in Metrovacesa.
This article was written and published in Spanish and has been translated into English via Google Translate. Click
here to read the original article.
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