30/06/2014 – Expansion
Blackstone proves serious intentions about investing in Spain. On June 9th, the US giant legally established The Blackstone Group Spain. The investment firm is one of the most active players on the Spanish real estate market with such noteworthy transactions like the purchase of 1.860 dwellings from the Madrid´s Municipal Housing and Land Company (EMVS) for €128.5 million.
The new branch aims at “providing advisory services related to mergers and acquisitions, as well as objective and potential purchase opportunity identification and conduction of the revision process, analysis and reporting on the identified acqusition targets”.
It will be based at 6 Fortuny Street in Madrid and will start off with a €3 billion social stake and Blackstone Holdings IV LP as its exclusive partner. Vithal Bharadia Vijay has been named as the division´s administrator.
Original article: Expansión (by C. G. Bolinches)
Translation: AURA REE