Spanish bank Santander has sold an network of almost 1,200 bank premises to Sun Capital Partners, insurer Pearl Group and Drago Real Estate Partners for EUR 2 bn. The bank said it has booked EUR 800 mln in capital gains from one of the largest commercial real estate transactions in Europe this year. The bank will lease back the offices for 45 to 47 years.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
