LONDON--(BUSINESS WIRE)--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 centre owners and managers and already owns and manages Forum Sintra in the Lisbon region.
The portfolio consists of 65,000 square metres 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.”
Multi is a leading owner, manager and (re)developer of high quality shopping centres across Europe and Turkey. As a well-capitalised, growth-oriented, pan-European retail platform, Multi is focused on creating, managing and improving sustainable rental income. Multi’s projects are often the catalyst for economic growth and social regeneration of cities and regions. Since its foundation in 1982, Multi has been responsible for the development of more than 180 projects and owns and/or manages nearly 70 shopping centres.
Multi is active in 12 countries, including the Netherlands where the
company is headquartered. Other countries in which Multi is active
include Belgium, Czech Republic, Germany, Italy, Poland, Portugal,
Slovakia, Spain, Ukraine, the United Kingdom and Turkey.