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Royal Bank of Scotland's 'bad bank' to offload 1,300 homes

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Royal Bank of Scotland's 'bad bank' to offload 1,300 homes

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pcernie

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Royal Bank of Scotland's 'bad bank' to offload 1,300 homes

http://www.theguardian.com/business/201 ... t-register

Good luck with that.

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Wed Oct 09, 2013 4:51 pm

Amnesia10

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Re: Royal Bank of Scotland's 'bad bank' to offload 1,300 homes


	Quote: Aubrey Adams, head of property in RBS's Global Restructuring Group (GRG), which includes West Register, said: "GRG is in effect the bad bank … we are looking very hard at selling [the residential portfolio] as a whole. I would love to do this as a REIT [real estate investment trust, an investment that trades on major stock exchanges]."

That is what has been happening in the US except that they are all trying to dump this sort of "investment" onto some new mugs. Even Blackrock are trying to sell off all their US residential holdings as a REIT.

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Wed Oct 09, 2013 6:54 pm

hifidelity2

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Re: Royal Bank of Scotland's 'bad bank' to offload 1,300 homes


	Amnesia10 wrote: That is what has been happening in the US except that they are all trying to dump this sort of "investment" onto some new mugs. Even Blackrock are trying to sell off all their US residential holdings as a REIT.

It depends on the discount they offer on the loan to valuation ratio.

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Thu Oct 10, 2013 11:20 am

Amnesia10

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Re: Royal Bank of Scotland's 'bad bank' to offload 1,300 homes

That is unlikely as they want to sell them as a investment fund, with capital gains. The problem is that every other institution that bought houses cheap now finds that they cannot offload them except as a REIT. That are also selling at the top of the market and need suckers for them to get out.

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Thu Oct 10, 2013 3:24 pm

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