Netherlands to start off of sale of Propertize in January

AMSTERDAM Dec 8 The Dutch state will start the method of promoting Propertize, the firm created to handle the genuine estate portfolio of collapsed and nationalised bank SNS Reaal, in January, the state agency in charge stated on Tuesday.

The business, which owns a five.five billion euro ($ 5.98 billion) portfolio of real estate and industrial genuine estate loans, will be sold either to a single buyer or a consortium of buyers acting jointly, NL Financial Investments said in a statement.

Parties admitted to the bidding process would receive a detailed confidential memorandum on the company’s portfolio in January, it added. ($ 1 = .9190 euros) (Reporting by Thomas Escritt editing by Susan Thomas)