American group Blackstone – the largest private-equity investor in real estate – is said to be in talks to buy two shopping centres in Portugal, writes Bloomberg Business.
“Two people with knowledge of the transaction” have told Bloomberg that the New York-based firm is “very close” to coming to an agreement to buy Almada Forum and Forum Montijo from CG Malls Europe, a fund controlled by Frankfurt-based Commerzbank AG.
Another source said the malls may be worth €100 million each, and have a combined space of around 75,000 square metres.
In February, Blackstone’s managing director in Spain and Portugal Inaki Echave said that the company was looking for opportunities in Portugal’s “attractive” real estate market.
So far, Blackstone has declined to comment on the deal.
Markus Esser, head of communications at Commerz Real, Commerzbank’s property fund manager, could not comment on “any possible talks” but confirmed that there are plans to sell “two malls in Portugal”.
