Spain

Testa placed 800 dwellings on sale in Madrid for €300M

Testa placed 800 dwellings on sale in Madrid for €300M

This transaction, if it goes through, would represent selling 10.5% of Testa’s portfolio in Spain.

The dwellings are not located in complete buildings, but rather in floors from several blocks which the company was unable to sell.

In the coming weeks, Blackstone hopes to receive the first non-binding offers (through its Socimi Testa), with the expectation of concluding the operation before the end of the year. Amongst the interested parties, might be Axa, Ares, DWS, Tectum, Primonial, Aberdeen and Neinor.

Blackstone is seeking to sell these assets, because it considers them mature. Jll will advise this operation.

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