In question shall be Sintra Retail Park, Forum Sintra, Forum Montijo and Almada Forum, according to the international press agency. JLL was hired by Blackstone Group LP to accompany this business, but representatives for Blackstone and JLL declined to comment this transaction.
The properties may be worth €750 million to €900 million, making it the country’s biggest ever real estate sale by value in at least a decade, said Cristina Arouca, a researcher and director at broker CBRE Group Inc. in the same source.
This is one more operation confirming the rising investors’ interest in the commercial property market in Portugal. Just this week, CBRE published a report where it forecasts that this year the numbers of the investment in 2015 may be reached again, and could even surpass the €2,000 million by the end of the year, «being possible to rise to a record of almost €3 billion this year».
Blackstone began acquiring the malls in Portugal in 2013, with the purchase of Multi Corporation, manager of Sintra Retail Park and Forum Sintra. A few years later it bought the Almada Forum and Forum Montijo from a fund managed by Commerzbank.