Blackstone has sold its Spanish residential portfolio Fidere to Brookfield Asset Management for €1.2bn, or approximately $1.4bn, according to Private Equity Insights. The transaction represents a net value of €1.05bn and stands as the largest multifamily deal in Spain since the 2007-2009 crisis, excluding select transactions. The portfolio comprises roughly 5,000 units across 47 buildings in Madrid, giving Brookfield significant scale in Spain's rental market. This move underscores Blackstone's strategy of monetising mature European real estate assets after years of investment in residential platforms.

For Brookfield, the acquisition expands its European housing exposure amid strong institutional demand for rental assets with supply constraints and long-term growth potential.