Santander Sells Hotel Loans to Take Advantage of Tourism Rebound
- Spanish lender said to sell €300 million hotel loans to Polus
- Another sale of commercial real estate is under consideration
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Banco Santander SA is selling part of its Spanish commercial real estate assets as it seizes on a post-pandemic resurgence in tourism to clean up its balance sheet.
Spain’s biggest bank this month sold around €300 million ($321 million) in hotel loans to credit investor Polus Capital Management, according to people with knowledge of the matter. The loans had previously been refinanced or were unlikely to pay.