According to preliminary plans, the corporate offices would not be included in the transaction although sources close to the entity note that they have also been appraised. Banco Sabadell began appraising their real estate assets a year ago and confirms that they are in no hurry to sell and intend to wait for an interesting opportunity to present itself. In fact, the bank has strengthened its balance sheet this year by selling half of its bank insurance business to Zurich, with a capital gain of 512 million Euros.
Banco Sabadell will thus join Spanish financial institutions that have decided to sell off part of their real estate holdings, a trend Banco Santander started with BBVA, Banco Popular and Caixa Galicia following suit.
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