Sunday, October 23, 2011

Holiday homes for the Occupy Wall Street protestors

Santander in Talks to Sell Spanish Properties

Banco Santander SA (SAN) is in talks to sell 12,000 Spanish apartments it repossessed to Wall Street funds, the Sunday Times reported. Cerberus Capital Management LP and Goldman Sachs Group Inc. (GS) are bidding against a Morgan Stanley (MS) fund, according to the report, which cited unidentified sources close to the talks. Santander still has about 6 billion euros of property to sell, according to the newspaper.

Posted by blinktoofast @ 10:53 AM (1530 views)
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4 thoughts on “Holiday homes for the Occupy Wall Street protestors

  • Are Wall Street so stupid as to buy these properties? If Santander have been unable to get rid of them, the Americans, even with a substantial discount, would have to wait for a recovery in real estate before making a profit, and that won’t be coming anytime soon. IMO.

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  • “Holiday homes for the Occupy Wall Street protestors”

    Would that mean they need two permits now?

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  • I applied for and received a confirmation of a mortage with Abbey/Sandander a fortnight ago and then suddenly had the offer retracted on spurious grounds (they seemed not to like me paying my pension contributions by salary sacrifice even though the figures they had for my salary were ‘post sacrifice’ and therefore the sacrifice doesn’t count as an outgoing on the ‘post sacrifice’ salary figure). I think this is a frantic rowing back from what was a bullish position in the mortgage market, cheapest by quite a way, probably says more about their liquidity than it does about mine.

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  • Brightonrentfodder says:

    mmm … who says that Santander are too big to fail. perhaps it’s best to steer clear of them.

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