Blackstone: Spain is in the top countries to invest in
LaCasa-DasHaus inmobiliaria Lloret de Mar highlights the importance of Blackstone’s perspective in the Spanish real estate market. Fernando Bautista, the CEO of Blackstone, emphasizes the relevance of Spain in the investment plans of this US fund within Europe. During a talk at the IESE real estate sector meeting, in collaboration with Tinsa and Savills, Bautista points out that, according to assessments for 2023 and forecasts for 2024, Spain stands out for its stability compared to other European regions.
With over ten years of experience investing in Spain, Blackstone presents itself as a committed investor, not a speculator, with approximately 8,000 employees, of which 1,200 are exclusively dedicated to the real estate sector in the country. Bautista emphasizes the company’s commitment to Spain and highlights the growth of the portfolio in areas such as logistics and hotels in the last 24 months.
Furthermore, Bautista expresses confidence in Spain’s potential in terms of rents and price per square meter compared to other European cities. During his presentation, he questions why prices in Spain should be significantly lower than in cities like London. However, he also warns about the importance of legal security, indicating that a stable regulatory framework is crucial to encourage investment.
Blackstone’s director shares figures on the capital available for real estate investment, indicating that they have raised 30 billion euros, with a 50% leverage, equivalent to about 65 billion for investments in Europe, Asia, and America. He also highlights Blackstone’s strategy of focusing on segments with greater resilience and cash flow growth, such as logistics, data centers, student residences (build to rent), and hospitality.
Bautista also mentions Blackstone’s diversification, including both long-term investments and more immediate opportunities. Although he is optimistic about the moderation of inflation and the eventual normalization of interest rates, he points out the fund’s caution regarding the timing of these changes.
