• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Blackstone Finalizes Purchase of Dwellings From Sareb

Blackstone completes the purchase of a lot of protected flats put on sale by Sareb and known as the Dorian Project. The portfolio consists of around 600 subsidized homes and 1.200 attached. According to the financial sources, the transaction could involve about 50 million Euros.

Last year Blackstone paid 128 millons for 1.800 subsidized houses to the City Hall of Madrid. Sareb launched the operation at the end of November through a quick tender where the assets were offered to several funds. The buildings are located within the Community of Madrid, Guadalajara and Barcelona. The capital assets are found in Mostoles, Valdemoro, Parla and Rivas Vaciamadrid. Sareb possesses other 7.000 subsidized flats, mainly acquired from CatalunyaBanc. The bad bank, obliged to report its balance from 2013, registered revenues of 2.000 million Euros last year.

Source: Expansión

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