Sareb
The company created in 2012 to absorb the toxic assets of Spain's rescued savings banks, now majority state-owned.
Detailed explanation
Spain's «bad bank» took on roughly 200,000 assets — loans and property — from the rescued institutions in 2012. Since 2022 the State holds the majority of its capital. It does not sell directly: it operates through servicers and portfolio campaigns, and a growing share of its land and housing is being channelled into affordable rental.
Practical example
A twenty-home Sareb portfolio in an inland province comes to market through its servicer, and the units left unsold after the campaign end up offered one by one at a further discount.
When it matters
It is the largest holder of discounted land and housing in the country: any serious search for distressed assets in Spain eventually crosses its portfolio.
At Arkos Investor
We track the campaigns and listings that reach the market through its managers and cross them against our own valuation before proposing anything.