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Home > Finance > U.S. fund Starwood to buy Spain residential home developer Aedas, Cinco Dias reports

U.S. fund Starwood to buy Spain residential home developer Aedas, Cinco Dias reports

Published by Global Banking and Finance Review

Posted on March 11, 2025

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MADRID (Reuters) - U.S.-based fund Starwood Capital is close to reach an agreement to buy a 79% stake in Spanish residential real estate developer Aedas Homes, newspaper Cinco Dias reported on Tuesday, citing unidentified sources.

Rival U.S. fund Castlelake currently controls 79% in Aedas and is eager to exit the company, the newspaper reported last year.

Given Spanish market rules, a potential buyer for the stake would have to make an offer for all of the company's stock.

At Monday's closing price, Aedas was worth 1.25 billion euros ($1.36 billion), according to LSEG data.

A spokesperson for Aedas declined to comment, while Castlelake and Starwood did not respond to requests for comment.

($1 = 0.9181 euros)

(Reporting by Inti Landauro, Editing by Louise Heavens)

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