Brookfield in talks to buy Blackstone's Fidere for $1.2 bln, Expansion reports

MADRID, Feb 10 (Reuters) - Brookfield Asset Management BAM.N is in exclusive talks with Blackstone BX.N to purchase its residential real estate company Fidere YFID.MC in Spain, Spanish newspaper Expansion reported on Tuesday, citing unidentified market sources.

The potential transaction could become one of the largest in the Spanish real estate sector this year, with an estimated value of around 1 billion euros ($1.2 billion), Expansion said.

Fidere's portfolio includes some 5,300 properties at 47 residential buildings in the Spanish capital, Madrid, as well as a large building in the city of Guadalajara. The entire portfolio was valued at around 1.2 billion euros by end-2024, according to Expansion.

Brookfield declined to comment on the report, while Blackstone did not immediately respond to a request for comment.

($1 = 0.8399 euros)