[[{“value”:”
Blackstone Eyes Potential €1.2B Sale of Spanish Apartments
Blackstone is reportedly exploring the sale of a Spanish rental apartment portfolio valued at approximately €1.2 billion (US$1.4 billion), according to Bloomberg News. The investment firm initially entered the Iberian multifamily housing market in the wake of the global financial crisis more than a decade ago.
The potential divestment is being advised by global real estate firms JLL and Eastdil Secured, sources familiar with the matter told Bloomberg.
The properties are currently managed by Fidere Patrimonio Socimi SA, a Blackstone-affiliated entity. Should the sale proceed, Blackstone plans to retain control of the management platform that oversees the portfolio.
This development comes on the heels of Blackstone’s recent high-profile acquisition in France, where the company purchased the Centre d’Affaires building in Paris’ Trocadero district for approximately €700 million (US$819 million). The historic office property, originally bought by Union Investment for €284 million in 2003, garnered significant investor interest prior to its sale.
“}]]
