US property firm Northwood Investors is reportedly the frontrunner in the race to acquire Dublin's Blanchardstown Centre.
The investor is said to have put forward a first-round offer in the region of €580 mln, according to a news report by the Times.
Investment group M&G, waste tycoon Eamon Waters and US property investor Hines are also said to be in the running for the 110,000 m2 mall despite pitching materially lower offers.
Northwood is working on a bid that would deliver a modest return for the owner, Goldman Sachs, and this would require a bid over and above the €560 mln owed to the shopping centre’s syndicate of senior lenders led by Morgan Stanley.
Goldman Sachs acquired the property at a valuation of €750 mln in December 2020.
