On Monday Santander Real Estate made the first payments to those investors in the giant Banif Inmobiliario real estate fund who requested redemptions before 27 February, Cinco Días reports.
The redemptions paid on Monday totalled €160 million. The total assets of the fund are €3.15 billion after suffering two devaluations of assets in the last four months.
As Citywire reported two weeks ago, requested redemptions from real estate funds in Spain add up to approximately half of the sector's total assets under management that peaked last year at €9 billion.
