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Spain's bad bank offers 7 blocks for sale, riding on rental-home demand

[MADRID] Spain's bad bank is offering seven residential blocks for sale in Madrid, Barcelona and Guadalajara, taking advantage of demand from international investors building rental-home businesses in the country.

The bank will set a minimum asking price for the portfolio of properties, which includes five buildings in Madrid, one in Barcelona and one in Guadalajara, Juan Barba, head of real estate for the bank, known as Sareb, said in a Nov 25 interview in Madrid. The homes were built from 2007 through 2011, he said, without disclosing their value.

"This type of sale is going to be our typical bread and butter in years to come," Mr Barba said.

The rental market in Spain, which has one of Europe's...

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