Blackstone Real Estate Partners Europe IV has announced the acquisition of Ireland’s Blanchardstown Centre from Green Property.
Financial details of the transaction have not been disclosed.
Blanchardstown Centre is a 1.2 million square foot retail complex consisting of more than 180 stores, along with several restaurants and leisure facilities such as a nine-screen cinema.
There is also an additional 1.6 million square foot to develop future retail, residential, office and leisure outlets. The additional capacity will bolster the centre’s position as a major town site.
Blanchardstown Centre is situated in north-western Dublin and linked to the country’s major motorways.
Following acquisition, Blackstone’s pan-European retail platform Multi Corporation will manage the centre.
Blackstone head of European real estate Anthony Myers said: "This is a further investment by us in Dublin and underlines our commitment to Ireland and belief in the strength of its economy."
The deal is expected to close this year following regulatory approvals.
