This new company will be the bridge which will join Blackstone’s main REITs: REIT Testa which will own 58.12% of the new company’s shares and REIT Fidere which will control the remaining 41.88%, it can be read in the release made available by the Mercado Alternativo Bursátil.
This new company will be in charge of managing 11.000 houses from Testa, 6.500 from Fidere and 500 from Hispania, which will remain properties of those companies. And this union should «improve efficiency in terms of managing the portfolio, optimising operational costs and returns, while offering a better service to its tenants».
Pablo Vera, Fidere’s current president, will take over the charge of CEO of this new society, mentioned the document.
