Blackstone proposes partnership to developers

Blackstone proposes partnership to developers

Blackstone will now try to find a solution for this gigantic land portfolio and in order to do it, it will ally with local developers.

Aliseda alone has a portfolio of terrains under management estimated at 800 million euro, although in the coming five years these terrains may be worth 50% or 100% more. These terrains were owned by Banco Popular which, following its merger with Santander, offloaded them to Aliseda. Blackstone acquired them when it expanded its position at Aliseda to 51% after paying 5.100 million euro.

With the terrains, Blackstone seeks to open the servicer to third parties, taking advantage of the infrastructure and in order to do it, the company will have to ally themselves with developers. It will be offering Blackstone’s capacity at a marginal cost. Within this model, Blackstone will propose new projects to the administrations in order to increase the housing offer.

Rustic terrains should be auctioned so as to create renewable energies facilities. These terrains are estimated at 120 million euro.

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