Announced
Completed
Financials
Sources
Tags
United States
real estate assets
residential real estate
Real Estate Holding and Development
Acquisition
Minority
Private
Joint Venture
Real Estate
Friendly
Single Bidder
Cross Border
Completed
Synopsis
Santander, a global banking group, completed the acquisition of a 20% stake in a portfolio of New York-based multifamily real estate assets from FDIC, a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks, for $1.1bn. "This transaction underscores our strength and scale, leveraging our considerable expertise in the sector. We are a major participant in the US multifamily space and this transaction plays to our strengths," Ana Botín, Banco Santander Executive Chair.
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