Deals
Blackstone Plans $3.5 Billion Joint Santander HQ Bid
- Blackstone and Centerbridge to make joint offer next week
- Santander to remain as tenant under sale-and-leaseback deal
A sign sits on a roundabout outside the headquarters of Banco Santander SA in Boadilla del Monte, Spain.
Photographer: Angel Navarrete/BloombergThis article is for subscribers only.
Blackstone Group LP and Centerbridge Partners LP plans to offer about 3 billion euros ($3.5 billion) for Banco Santander SA’s Madrid headquarters, according to a person with knowledge of the matter.
The buyout firms have until the beginning of next week to submit their joint bid for the 250-hectare (618-acre) office campus leased to the bank, the person said, asking not to be identified because the matter is private. A deal would extend Blackstone’s buying spree in the surging Spanish property market.