Brookfield Asset Management (BAM) has agreed to acquire a portfolio of rental housing assets in Madrid from Blackstone (BX) for a gross purchase price of about 1.20 billion euros ($1.38 billion), media reports said Tuesday.
The deal involves the purchase of Fidere Patrimonio Socimi, which owns roughly 5,000 apartments across 47 buildings in the Spanish capital, according to the reports.
Brookfield Asset Management shares were 3.8% higher in Tuesday premarket trading, while Blackstone shares rose 1%.
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