Blackstone, one of the world’s largest investment managers, focuses on Spain. This was recognized by Fernando Bautista, managing director of the firm in London, at IESE’s tenth real estate conference, organized together with Tinsa and Savills: “In the last twelve months we have raised the world’s largest real estate investment fund, expanding into North America as well as Europe and Asia.” We have a capital of 30,000 million dollars to invest. 65,000 million to purchase assets or companies in the real estate world.
Currently, 3% of the manager’s global asset portfolio is located in Spain, as the manager confirmed. “Here we have very large companies such as Testa, one of the largest landlords in Spain, HIP, the largest hotel company in the country, or Anticipa and Aliseda (companies responsible for the management of toxic debts) in the services sector, which have a lot of exposure and We believe in the potential of a country like Spain.“This is an important place for us,” Bautista said.
Blackstone’s chief executive noted the executive’s importance in the Spanish economy: “We have been investing in companies, real estate and infrastructure in this country for over a decade. We are not a speculative fund. More than 8,000 people are employed directly in our companies. “There are 1,200 workers in real estate companies alone.”
Better situation than others
In his speech, Fernando Bautista pointed out that Spain’s economic situation is good compared to other European Union countries: “After the 2008 financial crisis, homework was done here. The private sector is better capitalized than other countries. There was distrust around the world about Spain’s behavior, but as 2023 passed and 2024 went on, there was much more stability.
The good situation in our country pushed the manager to maintain his investment appetite. “In the last 24 months We focused on increasing our logistics warehouse and hotel portfolio“We have never stopped investments,” the firm’s manager said, emphasizing that valuations in Spain have been less damaged by lower corporate debt compared to price declines in assets in Northern European countries and the United Kingdom. Companies and their owners In the same vein, the North American management company said believes: Prices and rents of different types of properties are increasing in Madrid and Barcelonait equates itself with other major cities of the Old Continent, such as Paris or London.
Assets Blackstone focuses on: logistics shipsThe type of property they own most worldwide is ‘data centres’ (data centers) and whole room formulas rental housing waves student dormitories. They are also interested in investing in everything related to the industry. hotel industry and offices focusing on health sciences, colloquially known as: ‘life science’These are areas where pharmaceutical companies and research companies bring together laboratories and work areas.
Macroeconomic forecasts
Blackstone’s Fernando Bautista is optimistic about controlling inflation, although he acknowledges that “upward pressure on wages remains.” The manager emphasized that the 80 basis point decrease in the profitability of Spanish bonds was good news. “We see that the economy continues to pull very strongly.. “We are focused on creating the largest ‘cash flow’ possible to best cover ourselves,” he concluded.