TESTA RESIDENCIAL SOCIMI SA
TESTA RESIDENCIAL, SOCIMI, S.A. is a Spanish public limited company (Sociedad Anonima) with CIF A82865890, registered with the Mercantile Registry of Madrid (tomo 16.114, folio 87, hoja M-272946) at Calle Santiago de Compostela 94, 3 planta, 28035 Madrid. The company was incorporated in 2001 and remains active according to the Registro Mercantil Central.
Testa Residencial operates as a Sociedad Cotizada de Inversion en el Mercado Inmobiliario (SOCIMI), Spain’s listed real estate investment trust regime, and is registered under CNAE code 6820 for the rental of real estate on its own account. Its core business is the ownership and long-term rental of multi-family residential property. As of late 2025 the company reported a portfolio of more than 10,000 rental homes, concentrated mainly in Madrid, with additional assets in San Sebastian, Barcelona, Las Palmas de Gran Canaria, Palma de Mallorca and Valencia, making it one of the largest residential landlords operating under the SOCIMI structure in Spain.
Testa Residencial’s shares trade on BME Growth, the Spanish multilateral trading facility for smaller and mid-sized issuers formerly known as the Mercado Alternativo Bursatil, under ticker YTST and ISIN ES0105210019.
In December 2025 the company refinanced its debt through a new syndicated loan of approximately EUR 1,525 million, maturing in February 2031 with a possible extension to 2033. During 2025 the company generated approximately EUR 196 million from asset disposals, and in March 2026 its board approved a shareholder distribution of EUR 76 million, equivalent to EUR 0.58 per share.
This description reflects information filed with the Mercantile Registry, BME Growth market disclosures and Testa Residencial’s own reporting as of the dates indicated above.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
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Shareholders
Shareholders of TESTA RESIDENCIAL SOCIMI SA
Testa Residencial SOCIMI, S.A. discloses a single majority direct shareholder. According to a significant shareholding filing with reference date 31 December 2025 (published 9 January 2026), Tropic Real Estate Holding, S.L.U. holds a direct stake of 99.52% of the company’s share capital. Indirect holdings exceeding 5% are attributed to five Blackstone-managed real estate investment vehicles that sit above Tropic Real Estate Holding in the ownership chain: Blackstone Real Estate Partners Europe V-NQ L.P. (34.21%), Blackstone Real Estate Partners VIII.F-NQ L.P. (26.51%), Blackstone Real Estate Partners VIII-NQ L.P. (15.18%), Blackstone Tropic Co-Investment Partners L.P. (10.13%) and Blackstone Real Estate Partners VIII.TE.1-NQ L.P. (5.79%). The remaining free float is below the individual disclosure threshold and is not itemised. No current disclosure identifies Spanish banks, which historically held stakes in Testa Residencial before its 2018 acquisition by Blackstone-led investors, as current shareholders.
Ultimate beneficial ownership
The Blackstone entities listed above are investment funds rather than natural persons, and no natural-person ultimate beneficial owner has been publicly identified through the reviewed filings. The effective ownership chain runs from these funds through Tropic Holdco, S.a r.l. (Luxembourg) and Tropic Real Estate Holding, S.L.U. (Spain) into Testa Residencial, but because the chain terminates in institutional investment vehicles rather than a disclosed individual, a natural-person UBO percentage cannot be calculated from the available sources.
Data availability
Shareholder disclosure for Testa Residencial is major-shareholders-only: as a BME Growth-listed SOCIMI it is required to disclose direct and indirect holdings above regulatory thresholds, but full details of intermediate holding percentages within the Blackstone fund structure are not itemised beyond the reported figures. Information is current as of 31 December 2025.
Sources
- Significant shareholdings disclosure summary (Participaciones significativas a 31 de diciembre de 2025), Testa Residencial SOCIMI S.A., via MarketScreener Espana, retrieved 2026-09-18: https://es.marketscreener.com/noticias/testa-residencial-socimi-s-a-participaciones-significativas-a-31-de-diciembre-de-2025-100-kb-ce7e59d3d98cff24
- BME Growth company listing page (ticker YTST, ISIN ES0105210019), retrieved 2026-09-18: https://www.bmegrowth.es/ing/Ficha/TESTA_RESIDENCIAL__SOCIMI__S_A__ES0105210019.aspx
Officers
11
Directors and officers of TESTA RESIDENCIAL SOCIMI SA
Spain’s Mercantile Registry records list 12 officer entries for Testa Residencial SOCIMI, S.A., of which the reviewed registry extract shows 5 active board members (Consejeros), including a combined Secretary and Director role. Cross-referencing against BME Growth’s governance disclosure for the company confirms an active board of eight members: Jean-Christophe Dubois, Dorota Marta Roch, Elena Piaia, Laura Garcia Fernandez (Corporate Secretary and Board Member), Claudio Boada Palleres, Fernando Bautista Blazquez, Juan Pablo Vera Martin and J. F. P. Emmanuel Bossy. All are recorded with active status and no resignation date in the sources reviewed. Appointment dates are only consistently available for one member, Claudio Boada Palleres, appointed 1 July 2022; appointment dates for the remaining board members are not disclosed in the sources reviewed. Occupations are not separately reported; the legal role recorded for board members is "Consejero" (Director), rendered here as Board Member, and for Laura Garcia Fernandez as "Secretary & Director".
Data availability
Officer information for Spanish companies is sourced from the Registro Mercantil and is current-only: historical, resigned or removed officers are not shown in the extract reviewed. Nationality of individual board members is not disclosed in either the registry extract or the BME Growth governance page reviewed, and correspondence addresses recorded are service addresses in Spain, not residential addresses.
Sources
- BME Growth governance disclosure for Testa Residencial SOCIMI S.A., retrieved 2026-09-18: https://es.marketscreener.com/cotizacion/accion/TESTA-RESIDENCIAL-SOCIMI–45081125/empresa-gobernanza/
- Registro Mercantil Central / Colegio de Registradores officer records as held in Zavia.ai company data, last synced 2026-09-18
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
Group Structure
Group structure of TESTA RESIDENCIAL SOCIMI SA
Testa Residencial SOCIMI, S.A. is part of a verified corporate group ultimately linked to Blackstone-managed real estate investment vehicles. Its immediate parent is Tropic Real Estate Holding, S.L.U. (Spain, registration number B88165899), which holds a disclosed direct stake of 99.52%. Tropic Real Estate Holding is in turn controlled by Tropic Holdco, S.a r.l. (Luxembourg, registration number B233662), the highest entity identified in the reviewed ownership chain. Testa Residencial has three verified direct subsidiaries, all incorporated in Spain: TESTA HOMES, S.L. (B88544267), VALGRAND 6, S.A. (A80322654) and TESTA ALQUILERES URBANOS, S.L. (B84931831). The group’s disclosed structure therefore spans two jurisdictions, Spain and Luxembourg. Information is current as of the most recent registry synchronisation and the 31 December 2025 significant-shareholding filing.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Tropic Holdco, S.a r.l. | Luxembourg | LU B233662 | Ultimate parent | Not disclosed | Active | 2025-12-31 |
| Tropic Real Estate Holding, S.L.U. | Spain | ES B88165899 | Immediate parent | 99.52% | Active | 2025-12-31 |
| TESTA HOMES, S.L. | Spain | ES B88544267 | Direct subsidiary | Not disclosed | Active | Registry sync |
| VALGRAND 6, S.A. | Spain | ES A80322654 | Direct subsidiary | Not disclosed | Active | Registry sync |
| TESTA ALQUILERES URBANOS, S.L. | Spain | ES B84931831 | Direct subsidiary | Not disclosed | Active | Registry sync |
Data availability
Corporate-linkage information is partial: the immediate parent’s direct ownership percentage is confirmed via a significant-shareholding filing, but ownership percentages for the Luxembourg ultimate parent and for the three Spanish subsidiaries are not itemised in the sources reviewed.
Sources
- Zavia.ai corporate-linkage data (Registro Mercantil-sourced), synced 2026-09-18
- Significant shareholdings disclosure summary, retrieved 2026-09-18: https://es.marketscreener.com/noticias/testa-residencial-socimi-s-a-participaciones-significativas-a-31-de-diciembre-de-2025-100-kb-ce7e59d3d98cff24
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
Tropic Holdco S.a r.l.
Luxembourg
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Frequently Asked Questions
What does TESTA RESIDENCIAL SOCIMI SA do?
Spanish SOCIMI (listed REIT) that owns and rents over 10,000 residential homes, mainly in Madrid, under CNAE 6820.
Who owns TESTA RESIDENCIAL SOCIMI SA?
Tropic Real Estate Holding, S.L.U. holds a direct 99.52% stake; indirect holders above 5% are five Blackstone-managed real estate funds.
Who is TESTA RESIDENCIAL SOCIMI SA's UBO (Ultimate Beneficial Owner)?
No natural-person UBO publicly identified; ownership chain terminates in institutional Blackstone investment vehicles.
What is TESTA RESIDENCIAL SOCIMI SA's company registration number?
TESTA RESIDENCIAL SOCIMI SA's registration number is A82865890, filed with Colegio de Registradores / Registro Mercantil Central in Spain. Its current status on the register is active.
Is TESTA RESIDENCIAL SOCIMI SA still an active company?
TESTA RESIDENCIAL SOCIMI SA's status on Colegio de Registradores / Registro Mercantil Central is listed as active.
What is TESTA RESIDENCIAL SOCIMI SA's registered address?
The registered address on file for TESTA RESIDENCIAL SOCIMI SA is Madrid, Spain.
What legal structure is TESTA RESIDENCIAL SOCIMI SA registered as?
TESTA RESIDENCIAL SOCIMI SA is registered as a Public Limited Company in Spain.
What is TESTA RESIDENCIAL SOCIMI SA's revenue?
Generated approximately EUR 196 million from asset disposals in 2025; refinanced with a EUR 1,525 million syndicated loan in December 2025.
Is TESTA RESIDENCIAL SOCIMI SA listed on a stock exchange?
Listed on BME Growth under ticker YTST, ISIN ES0105210019.
Who are the officers/directors of TESTA RESIDENCIAL SOCIMI SA?
Registro Mercantil lists 12 officer entries; BME Growth discloses an active 8-member board including a combined Secretary and Director role.
Does TESTA RESIDENCIAL SOCIMI SA have a parent company or subsidiaries?
Immediate parent Tropic Real Estate Holding S.L.U. (Spain); ultimate parent Tropic Holdco S.a r.l. (Luxembourg); 3 direct Spanish subsidiaries.
Can Zavia monitor changes to TESTA RESIDENCIAL SOCIMI SA's ownership over time?
This profile reflects a point-in-time snapshot from Colegio de Registradores / Registro Mercantil Central. Zavia's monitoring API can track changes to TESTA RESIDENCIAL SOCIMI SA's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access TESTA RESIDENCIAL SOCIMI SA's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Spain, so records like TESTA RESIDENCIAL SOCIMI SA's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Colegio de Registradores / Registro Mercantil Central and was last synced on 18 September 2026.