Blackstone sells Fidere residential portfolio to Brookfield for $1.2 billion

Fidere Patrimonio SOCIMI SA

31/03/2026 08:59

Corrects headline, first paragraph to clarify dollar amount of gross price is $1.4 billion.

MADRID, March 31 (Reuters) - Blackstone BX.N has sold its entire Fidere YFID.MC residential portfolio in Spain to Brookfield Asset Management BAM.N for a gross purchase price of 1.2 billion euros ($1.4 billion), the U.S. private equity firm said late on Monday.

The transaction was valued at a net 1.05 billion euros, Fidere said in a regulatory filing.

Blackstone said the sale represents the largest multifamily transaction in Spain since the 2007-2009 financial crisis, excluding its acquisition of Testa Homes.

The deal was first reported as a possible one by Spanish newspaper Expansion in February.

Fidere's portfolio includes some 5,000 housing units across 47 residential buildings in Madrid.

($1 = 0.8720 euros)

 (Reporting by Paolo Laudani
Editing by Bernadette Baum)

 ((Paolo.Laudani@thomsonreuters.com;))