Home / Business and Economy / Blackstone Sells Spanish Homes for $1.3B
Blackstone Sells Spanish Homes for $1.3B
31 Mar
Summary
- Blackstone divested its entire Fidere residential portfolio in Spain.
- Brookfield Asset Management acquired the portfolio for 1.2 billion euros.
- The sale comprises approximately 5,000 housing units across Madrid.
Blackstone announced on Monday the complete divestment of its Fidere residential portfolio in Spain.
The U.S. private equity firm sold the extensive portfolio to Brookfield Asset Management for a gross purchase price of 1.2 billion euros.
Fidere's filing indicated a net transaction value of 1.05 billion euros.
This significant deal is noted as Spain's largest multifamily transaction since the financial crisis of 2007-2009, excluding Blackstone's acquisition of Testa Homes.
The Fidere portfolio encompasses roughly 5,000 housing units, situated within 47 residential buildings predominantly located in Madrid.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
