Key Moments
- Brookfield Asset Management entered exclusive negotiations with Blackstone to acquire Spanish residential landlord Fidere, according to Expansion.
- The proposed deal was estimated at around 1 billion euros ($1.2 billion), potentially ranking among the largest Spanish real estate transactions that year.
- Fidere’s portfolio comprised approximately 5,300 homes across 47 buildings in Madrid and a major property in Guadalajara, valued at about 1.2 billion euros by end-2024, Expansion reported.
Exclusive Talks on Spanish Residential Portfolio
Brookfield Asset Management is engaged in exclusive discussions with Blackstone regarding the acquisition of Fidere, Blackstone’s residential real estate platform in Spain, Spanish newspaper Expansion reported on Tuesday, citing unidentified market sources. The report indicated that Brookfield is seeking to purchase the business from Blackstone.
According to Expansion, both Brookfield and Blackstone declined to comment on the reported negotiations.
Deal Size and Strategic Significance
Expansion reported that the contemplated transaction could rank among the largest operations in the Spanish real estate market that year. The potential sale of Fidere was estimated at around 1 billion euros, equivalent to $1.2 billion, based on the figures cited in the report.
| Metric | Value |
|---|---|
| Indicative transaction value | 1 billion euros ($1.2 billion) |
| Portfolio valuation (end-2024) | 1.2 billion euros |
| Exchange rate | $1 = 0.8399 euros |
Details of Fidere’s Spanish Residential Assets
Fidere’s assets consist of roughly 5,300 residential units spread across 47 buildings in Madrid, along with a large property in the city of Guadalajara, Expansion reported. The entire portfolio was valued at around 1.2 billion euros by the end of 2024, according to the same source.
Expansion based its reporting on information from unnamed market sources and did not specify additional terms or conditions of the exclusive talks.
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