Blackstone owns more housing in Madrid than any other company or owner.

The view from the Gran Via in Madrid is in the spotlight because of information published by Spanish research organizations Civio and El Salto. The study of the apartment market of Comunitat de Madrid showed that Blackstone, with 13,125 rental properties, is the second largest landlord in the region, second only to the region's Social Housing Agency. Blackstone's subsidiaries, Testa and Fidere, earned 100 million euros in rentals in 2022, according to the company's annual reports. The study also revealed that the Social Housing Agency had 512,412 residential leases, including more than 118,000 properties owned by companies with 50 or more rental properties. The total number of these companies is 374, which control about a quarter of the rental housing market through 463 branches.

Most are real estate agencies (239), but there are also financial institutions (33) and communities of co-owners, property owners and heirs (20). Some of the "mega-landlords" represent private companies (317), public enterprises (21) and other types of organizations (36). In addition, 32 of these companies are incorporated overseas. Most of them have a U.S. affiliation, including Blackstone.Communidad de Madrid is the largest tenant with 21,549 rental properties, followed by Blackstone (13,125), Madrid City Hall (7,000), CBRE (4,848), CaixaBank (4,772), Renta Corporación (2,916), Cerberus (2,448), Ban