Blackstone Weighs Sale of €1.2 Billion Spanish Housing Portfolio

Blackstone Inc. is weighing the sale of a Spanish rental portfolio as it continues to exit a vast bet placed more than a decade ago on the battered Iberian housing market in the aftermath of the global financial crisis.

The alternative asset manager has lined up Jones Lang LaSalle Inc. and Eastdil Secured LLC to advise on a potential sale of about €1.2 billion ($1.4 billion) of homes, people with knowledge of the process said.