What views do you have on the Spanish property market? And, what do you think about Blackstone’s growing presence in Spain?
We think Blackstone is taking a good risk/reward bet as it is buying pools of assets at a good discount with a very positive trend in both the NPLs and delinquency rates. We think the market will continue to move up but at a slower pace contrary to the past two or three years. On the positive side, this trend is moving from tier 1 or prime location areas to tier 2 and even tier 3 location areas where entities like Blackstone and Apollo have been able to buy pools of assets at big discounts.
Name: Jacobo Silva
Title: Portfolio manager and head of External Fund Research
Company: Omega Capital
‘Fund selectors in the news’ is the regular section we carry out in our InvestmentEurope magazine. To subscribe click here: http://www.investmenteurope.net/subscription/