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The Department of Justice Acquits Blackstone and the EMVS for the Sale of 1,860 Social Housing Flats

The ruling indicates that no direct damage was inflicted on the tenants of the homes that were sold since they continued in the same legal situation under the terms of their rental contracts.

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It’s the end of the saga involving the sale of flats by the Municipal Housing and Land Company of Madrid to the fund manager Blackstone. The Provincial Court of Madrid has acquitted all of those being investigated in the case.

The ruling comes eight years after the funds owned by the North American giant were awarded 1,860 social housing units for 128.5 million euros. In the dock sat the former CEO of the public company, Fermín Oslé Uranga, and Alfondo Benavides Grases, as a representative of Fidere, a company owned by Blackstone.

Read the full article in Spanish.

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