Three shopping centres in Spain and Portugal for Multi Corp

Blackstone announces that it has acquired three assets which will be managed by its European retail platform, Multi Corporation.

Blackstone Real Estate Partners Europe IV acquired these shopping centres through the acquisition of the shares of the CG Malls Europe Fund. 

The new additions to the portfolio are: 
Almada Forum, in Lisbon, it’s one of the leading shopping centres in Iberia, with 59,000 m2 GLA
Forum Montijo in Montijo, with 41,000 m2 GLA;
Espacio Leon in Northern Spain, which has 37,000 m2 GLA.

Multi is one of Europe’s leading shopping centre owners and managers and owns and manages 25 assets in Portugal and Spain. 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.”

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.