Blackstone Acquires Blanchardstown Centre

Blackstone Real Estate Partners Europe IV (”Blackstone”) announce the acquisition of Blanchardstown Centre, one of Ireland’s leading retail and leisure destinations from Green Property.

Blanchardstown Centre is a dominant 1.2 million square foot retail complex comprising over 180 leading stores, together with numerous restaurants and leisure facilities, including a 9-screen cinema. There is capacity for an additional 1.6 million square feet of development potential (across retail, residential, office and leisure uses) further bolstering the site’s position as a Major Town Centre. Located in north-western Dublin and linked to Ireland’s major motorways, Blanchardstown Centre is one of Ireland’s most accessible and premier retail destinations and continues to be well placed to serve Dublin and beyond.

Multi Corporation, Blackstone’s pan-European retail platform, will manage Blanchardstown Centre post acquisition.

Anthony Myers, Head of European Real Estate at Blackstone, 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 transaction is expected to close this summer pending relevant regulatory approvals.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $100 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 investments 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.

About Multi Corporation

Multi is a leading owner, manager and (re)developer of high quality shopping centres across Europe and Turkey. As a well-capitalized, growth-oriented, pan-European retail platform Multi is focused on creating, managing and improving sustainable rental income. Multi projects act as a catalyst for economic growth and social development of the cities and regions in which they are developed. Since its foundation in 1982, Multi has played an active role in the development of more than 180 projects, and currently owns and/or manages over 130 shopping centres. Multi operates in 13 countries, including the Netherlands, where it is headquartered, and Belgium, the Czech Republic, Germany, Italy, Latvia, Poland, Portugal, Slovakia, Spain, Ukraine, the United Kingdom and Turkey. More info on: www.multi.eu

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BlackstoneAndrew Dowler/Rebecca Flower+44 (0)20 7451 [e-mail]