Blackstone acquires three shopping centers

Blackstone Real Estate Partners Europe IV announced that it acquired an additional three assets in Portugal and Spain, which will be managed by its European retail platform, Multi Corporation.

Blackstone acquired these malls through the acquisition of the shares of the CG Malls Europe Fund. Multi owns and manages 25 assets in Portugal and Spain. The new additions to the portfolio are: Almada Forum in Lisbon, one of the leading shopping centers in Iberia, with 59,000 sq m of lettable space; Forum Montijo in Lisbon, with 41,000 sq m of lettable space; and Espacio Leon in Northern Spain, which has 37,000 sq m of lettable space.

Jaap Blokhuis, Chief Executive Officer of Multi, said: “These are all high-quality, award winning assets originally developed by Multi that we will integrate into our operations in the region. We will use our skills as a leading pan-European operator further to improve their attraction for retailers and local consumers.”

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