Ana Botella’s sale of public housing to Blackstone sparks tenant lawsuits and legal battles
Former Madrid mayor Ana Botella sold a large block of publicly funded homes to Blackstone at a low price, leading to rent hikes, evictions and ongoing court cases by tenants.
In 2013, Ana Botella, then mayor of Madrid, approved the sale of a sizable portfolio of public-sector housing to Blackstone’s Spanish arm, a move described by auditors as opaque and favoring a single buyer. Tenants were later served with letters announcing dramatic rent increases, prompting a wave of departures, evictions and legal challenges. Activist Arantxa Mejías and dozens of neighbours sued to either repurchase their apartments at the sale price or hold the municipality accountable, achieving mixed outcomes in the Supreme Court and Constitutional Court, and now appealing to the European Court of Human Rights.
The Tribunal de Cuentas condemned the deal for undervaluation and a questionable intermediary fee, though later judicial votes shielded the city from liability. The assets have since been acquired by the Canadian fund Brookfield, leaving residents uncertain about future rent terms and contract renewals.
Why it matters
The case highlights how public-housing sales can affect thousands of renters and raise questions about government transparency and accountability.
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