Blackstone to Buy Madrid Apartments in Spain Property First

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  • #57713
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    Blackstone Group LP (BX:US), the largest manager of private-equity real estate funds, agreed to buy a group of Madrid apartments for 125.5 million euros ($166 million) in its first property purchase in Spain.

    Blackstone, based in New York, is acquiring 18 apartment blocks with a total of 1,860 units from the city of Madrid. Of those units, 1,208 are rented to tenants and 652 are leased with an option to buy, according to an e-mailed statement from Cristina Garrido, a Blackstone spokeswoman.

    http://www.businessweek.com/news/2013-07-24/blackstone-to-buy-madrid-apartments-in-first-spain-property-deal

  • #117712
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    Not bad for €67k per apartment !!!!!!

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