Brookfield in talks to sell 1,550 rental flats in Madrid

Five buildings contain 850 flats and another seven add up to 700. This is how the two portfolios that Brookfield is negotiating to sell in Madrid are distributed.

The amount could exceed 350 million euros, although the final figure is still unknown. The deal is not closed: talks include an Asian fund and a Spanish family investment group. Brookfield has declined to comment.

The strategy involves speeding up the sale of part of the assets. Brookfield had considered selling the homes one by one, a method known in the sector as “privatisation”, instead of keeping them long-term as rental properties. To manage the rentals and sell vacant homes individually, the fund has partnered with Clikalia.

The homes come from a larger portfolio: around 5,000 units that Brookfield bought in April from Blackstone for 1.05 billion euros. The package is linked to the real estate company Fidere. The deal was one of the major transactions in the residential sector this year.

The fate of those living in the twelve buildings is not detailed. According to sector sources consulted by Cinco Días, regulatory uncertainty is raising doubts about the closure of residential deals.

The bulk sale focuses negotiations on complete portfolios, while the “privatisation” proposed by Brookfield involves offering flats individually. Clikalia is in charge of managing the rentals and selling the homes that become vacant. The available information does not specify any changes for the tenants of these buildings. In another area of residential services in Madrid, the extension of contracts will ensure care for 720 people with disabilities until mid-2027.