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Testa Puts 800 Homes Up for Sale in Madrid for 300 Million Euros

The portfolio includes around 800 homes, for which Testa, Blackstone's socimi, aims to pocket approximately 300 million euros.

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The US fund Blackstone’s Socimi has put a significant part of its portfolio up for sale. Testa wants to sell six residential properties with 800 homes.

This transaction, if completed, would mean the sale of 10.5% of Testa’s residential portfolio in Spain. The price it has set is 300 million euros, valuing its 800 assets at 400,000 euros each.

The properties are in different buildings in various apartment blocks that the listed company has managed to sell.

Over the next few weeks, they expect to receive the first non-binding offers, looking to close the deal before the end of the year. Axa, Ares, DWS, Tectum, Primonial, Aberdeen and Neinor are among the potential buyers.

Blackstone is looking to dispose of these assets because it considers them to be mature. JLL will advise on this transaction.

Read the full article in Spanish

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