Blackstone… Goldman Sachs: who will be the next owner of Blanchardstown, the 112,000 m2 Dublin mall, which has been put up for sale again?
The Irish press reported that Goldman has mandated CBRE and Eastdil to find a buyer and is seeking between €650 mln and €725 mln.
The American bank has only owned Blanchardstown for two and a half years, but had invested in the shopping centre previously as a lender to preceding owner Blackstone. Goldman’s merchant banking division took over the centre when Blackstone gave up control in late 2020 after the mall’s value crashed - apparently from the €950 mln that Blackstone had paid Green Property to buy it in 2016, to €750 mln in 2020.
Top of the deals announced in the last week is the €420 mln acquisition by NREP’s latest value add fund of 22 care homes in Sweden, mainly built between 2018-2022. They’ll be managed by NREP’s social infrastructure arm Altura.
Singaporean investors continue to be active buyers: IREIT Global, backed by Singapore’s City Developments, bought a French retail portfolio, while KOP, which owns hospitality chain Montigo Resorts, bought a London hotel.
Among four funds tracked which are launching or raising capital is another new vehicle for debt investing, from Tikehau and Altarea. It is the nineteenth tracked by PropertyEU for a pure debt strategy already this year.
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