Blackstone Puts its Rental Homes in Small Municipalities Up for Sale

24 February 2020 – El Confidencial

Aliseda, one of Blackstone’s real estate subsidiaries, has decided to sell the rental homes that it owns in two thirds of the municipalities in which it operates. The company, which owns residential assets in 1,300 towns, will end up with a presence in just 500, and will focus on the areas around Madrid, Barcelona, Bilbao, Málaga and Valencia.

This has been the firm’s reaction to the new rental legislation, which has disrupted its plan by lengthening the term of rental contracts to seven years and by limiting rental increases during that period to CPI, according to reports from El Confidencial.

Original Story: El Confidencial

Translation/Summary: Carmel Drake