Halkbank: No bank loss occurred in the sale of Sapphire AVM
Halkbank, in its statement regarding the sale of Sapphire shopping center and viewing terrace to the Kiler Group, which created a public debate, argued that the sale did not cause any damage.
In the statement made by the bank, it was stated that the loan subject to asset debt swap is in Turkish Lira, and the real estates were acquired in Turkish Lira.
Stating that the current value of the loan, including the interest, is at the same level as the current sales value of the real estate, Halkbank stated that the current sales amount is well above the acquisition value of the real estate.
In its statement, Halkbank stated that it is very clear that the calculation of foreign currency values without taking into account the exchange rate changes in the news about the sale does not reflect the truth.
“Only three offers were received, they were 35-40 percent lower than the advertised price”
In the statement of Halkbank, the market value of the shopping malls is determined not by the price increases of the other real estates in the region, but by the increasing trend in the number of customer visitors, turnover capacity, number of tenants and store occupancy rates of the shopping center, including the coming years. stated that it had a negative impact on market value and buyer demands.
Stating that the real estates were put up for sale and only 3 purchase offers were sent to the Bank in writing during the period of the advertisement, Halkbank said that the prices in the purchase offers were 35% to 40% lower than the sales announcement price.
The bank gave the following details in its statement:
In the end, since the purchase offer submitted by the former owner of the real estates, the loan company, was at the current appraisal value of the real estates and was higher than the Bank’s acquisition cost and was considerably higher than the other purchase offer prices, the said real estate was approved by the Board of Directors of the Bank and the said real estate was sold.
In addition, no determination was made regarding the foreign currency value of Safir AVM and Seyir Teras in any part of our Bank’s Report of the Court of Accounts for the year 2021, and only a recommendation was made to dispose of the AVM. performed the extraction.
An agreement of 905 million TL was signed for the repurchase of the asset that provided the liquidation of the financing burden of 583 million TL 2 years ago.
Kiler Real Estate Investment, a subsidiary of Kiler Holding, and group company KBC Gıda signed a contract to purchase the entire “Istanbul Sapphire” shopping center and viewing terrace owned by Halk Bank for 905 million TL.
In the statement, KBC Gıda Sanayi ve Ticaret Ltd. Sti. It was stated that a contract was signed for the purchase of all 247 independent sections for 905 million TL.
In addition, it was stated that the shares of Safir Çarşı Yönetim Hizmetleri AŞ, which was established for the management and operation of the said real estate, would be purchased by Kiler GYO at their nominal value.
In 2020, Kiler REIT announced that in order to reduce the financial burden of the company, the sale of real estate in the company portfolio to buyers was completed with a certain discount rate from their appraisal values against debts. With this sale, the company’s financing burden of 583 million TL was liquidated.