Return to search

Blackstone buys three shopping centers in Portugal and Spain

Blackstone has acquired three shopping centers in Portugal and Spain. No financial terms were disclosed.


London, Gouda, 12 May 2015. Blackstone Real Estate Partners Europe IV (“Blackstone”) announces that it has acquired an additional three assets in Portugal and Spain which will be managed by its European retail platform, Multi Corporation. Blackstone acquired these shopping centres through the acquisition of the shares of the CG Malls Europe Fund. Multi is one of Europe’s leading shopping centre owners and managers and 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 centres in Iberia,with 59,000 m2 of lettable space;
• Forum Montijo in Lisbon, with 41,000 m2 of lettable space; and
• Espacio Leon in Northern Spain, which has 37,000 m2 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 to further improve their attraction for retailers and local consumers.”

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has more than $93 billion in investor capital under management. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (single family homes), Logicor (pan-European logistics), SCP (Chinese shopping malls), and prime office buildings in the world’s major cities. Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust (NYSE: BXMT).

About Multi
Multi is a leading owner and manager of high-quality shopping centres across Europe and Turkey. As a well-capitalised, growth-oriented 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 more than 180 projects. As per April 2015 Multi owns and/or manages 82 shopping centres.

Multi is active in 12 countries, including the Netherlands, where the company has its headquarters. Other countries in which Multi is active include Belgium, the Czech Republic, Germany, Italy, Poland, Portugal, Slovakia, Spain, Ukraine, the United Kingdom and Turkey.