25 March 2019 – Idealista
The US fund Blackstone wants to raise funds to continue growing in Europe. The fund manager expects to secure up to €8 billion for its next European real estate fund, which is going to be called Blackstone Real Estate Partners Europe VI.
The new vehicle’s investments will have tickets starting from €75 million and will include portfolios of properties and corporate operations as the target assets.
Spain is very much on Blackstone’s radar following its purchase of 51% of Popular’s real estate business from Santander for €5.1 million, in one of the largest operations signed last year.
Moreover, the fund has purchased the property of CatalunyaCaixa, the shares of Hispania (including its large hotel portfolio) and the shares of Testa, the rental home company.
Original story: Idealista
Translation/Summary: Carmel Drake