Blackstone to Acquire Banco Popular Real Estate Portfolio
08.09.17
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Simpson Thacher is representing Blackstone Real Estate Partners in connection with its acquisition of a majority stake in Banco Popular S.A.’s real estate asset portfolio, which includes approximately €30 billion in real estate properties and loans, as well as in Aliseda, Banco Popular’s real estate management company. Blackstone will own a 51% stake in the newly created company and will also assume management responsibilities. Banco Popular will own the remaining 49% stake. The transaction is expected to close in the first quarter of 2018 and is subject to regulatory approvals.
The Simpson Thacher team includes Wheatly MacNamara (Real Estate); and Tom Lloyd and James Esterkin (Banking and Credit).