Blackstone acquires five retail assets in Portugal (PT)

Blackstone Real Estate Partners Europe IV (“Blackstone”) announces that it has acquired a further five retail assets in Portugal for its European retail platform, Multi Corporation. Multi is one of Europe’s leading shopping center owners and managers and already owns and manages Forum Sintra in the Lisbon region.
The portfolio consists of 65,000 m² 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 - Espírito Santo Fundos de Investimento Imobiliário, 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.”
Source: Blackstone