Finance
Blackstone Sells Fidere Residential Portfolio to Brookfield for $1.2 Billion
Published by Global Banking & Finance Review®
Posted on March 31, 2026
1 min readLast updated: March 31, 2026
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Blackstone sells its entire Fidere residential portfolio in the Madrid region to Brookfield for a gross €1.2 billion (net €1.05 billion), marking the largest multifamily deal in Spain since the financial crisis.
Blackstone sells Fidere residential portfolio to Brookfield for $1.4 billion
Major Transaction in Spanish Real Estate Market
(Corrects headline, first paragraph to clarify dollar amount of gross price is $1.4 billion.)
Details of the Sale
MADRID, March 31 (Reuters) - Blackstone has sold its entire Fidere residential portfolio in Spain to Brookfield Asset Management for a gross purchase price of 1.2 billion euros ($1.4 billion), the U.S. private equity firm said late on Monday.
Net Value and Regulatory Filing
The transaction was valued at a net 1.05 billion euros, Fidere said in a regulatory filing.
Significance of the Transaction
Largest Multifamily Deal Since Financial Crisis
Blackstone said the sale represents the largest multifamily transaction in Spain since the 2007-2009 financial crisis, excluding its acquisition of Testa Homes.
Initial Reports and Media Coverage
The deal was first reported as a possible one by Spanish newspaper Expansion in February.
Fidere Portfolio Overview
Residential Assets Included
Fidere's portfolio includes some 5,000 housing units across 47 residential buildings in Madrid.
Currency Exchange Rate
($1 = 0.8720 euros)
Reporting Credits
(Reporting by Paolo LaudaniEditing by Bernadette Baum)
Key Takeaways
- •Deal marks Spain’s largest multifamily transaction since 2007–09 crisis (excluding Testa Homes) (Reuters)
- •Portfolio comprises some 5,000–5,300 residential units across ~47 buildings in Madrid (Reuters; Expansion)
- •Transaction net value is €1.05 billion after debt, with gross proceeds of €1.2 billion (~US $1.3 billion) (Reuters)
Frequently Asked Questions about Blackstone sells Fidere residential portfolio to Brookfield for $1.2 billion
1What did Blackstone sell in Spain?
Blackstone sold its entire Fidere residential portfolio in Spain to Brookfield Asset Management.
2How much was the Fidere portfolio sale worth?
The gross purchase price was 1.2 billion euros ($1.3 billion), and the net value was 1.05 billion euros.
3Who bought the Fidere residential portfolio from Blackstone?
Brookfield Asset Management purchased the Fidere portfolio from Blackstone.
4How many housing units are in Fidere's portfolio?
Fidere's portfolio includes approximately 5,000 housing units across 47 residential buildings in Madrid.
5Why is this transaction significant?
It is the largest multifamily property transaction in Spain since the 2007-2009 financial crisis.
