December 09, 2014

Blackstone acquires five retail assets in Portugal

Blackstone acquires five retail assets in Portugal

Blackstone Real Estate Partners Europe IV (“Blackstone”) has acquired a further five retail assets in Portugal for its European retail platform, Multi Corporation. Multi is one of Europe’s leading shopping centre owners and managers and already owns and manages Forum Sintra in the Lisbon region.

The portfolio consists of 65,000 sqm of retail space, principally located in and around Lisbon. Retailers include Portuguese market leaders such as Continente and Modelo. Blackstone is acquiring the portfolio from funds managed by Novo Banco Group (previously Banco Espirito Santo) through ESAF - Espirito Santo Fundos de Investimento Imobiliario, S.A.

Jaap Blokhuis, Chief Executive Officer of Multi, said: “These assets have dominant market positions. We will apply our skills and experience as a leading pan-European operator to invest in them and to further improve their offer for retailers and local consumers.”

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