(Corrects headline, first paragraph to clarify dollar amount of gross price is $1.4 billion.) MADRID, March 31 (Reuters) – Blackstone has sold its entire Fidere residential portfolio in Spain to Brookfield Asset Management for a gross purchase price of 1.2 billion euros ($1.4 billion), the U.S. private equity firm said late on Monday. The transaction […]
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Blackstone sells Fidere residential portfolio to Brookfield for $1.4 billion
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(Corrects headline, first paragraph to clarify dollar amount of gross price is $1.4 billion.)
MADRID, March 31 (Reuters) – Blackstone has sold its entire Fidere residential portfolio in Spain to Brookfield Asset Management for a gross purchase price of 1.2 billion euros ($1.4 billion), the U.S. private equity firm said late on Monday.
The transaction was valued at a net 1.05 billion euros, Fidere said in a regulatory filing.
Blackstone said the sale represents the largest multifamily transaction in Spain since the 2007-2009 financial crisis, excluding its acquisition of Testa Homes.
The deal was first reported as a possible one by Spanish newspaper Expansion in February.
Fidere’s portfolio includes some 5,000 housing units across 47 residential buildings in Madrid.
($1 = 0.8720 euros)
(Reporting by Paolo LaudaniEditing by Bernadette Baum)