US alternative assets giant Blackstone has acquired a portfolio of 3,500 assets in Spain worth around €300 mln from Spanish bank BBVA, local press have reported.
The deal marks the sale of the largest real estate portfolio in BBVA's history: Project Buffalo. The vast majority of the assets are finished homes, but the package also includes storerooms, garages and retail premises.
The properties are located mainly in Cataluña (28%), Andalucía (20%) the Community of Valencia (18%), Madrid (6%), the Canary Islands (6%) and Castilla-La Mancha (6%).
