Cerberus Hires Deutsche Bank for Spain Rental Homes Portfolio

Cerberus Capital Management LP has hired Deutsche Bank AG to broker the sale of a portfolio of rental homes in Spain, according to people familiar with the matter.

Bids are expected as soon as next month and the assets could be valued at about €600 million ($701 million) to €800 million, according to the people, who asked not to be named discussing the information because it’s private. The US investment firm is looking to sell some 3,300 homes through Project Gloria, as the deal is being called, according to marketing documents seen by Bloomberg.