WEB SV Buys Irelands Largest Mall From Goldman Sachs
Overview
WEB Strategic Value Partners (SVP) has acquired the Blanchardstown Centre, Ireland's largest shopping mall, from investment banking giant Goldman Sachs in a deal valued at approximately €600 million.
Details of the Transaction
- The sale was completed on March 8, 2023.
- The purchase price is believed to be in the region of €600 million.
- Goldman Sachs had acquired the mall in 2015 for approximately €485 million.
About WEB SVP
WEB SVP is an opportunistic credit firm specializing in investing in distressed assets and turnaround situations.
About Blanchardstown Centre
Blanchardstown Centre is Ireland's largest shopping mall, located in Dublin 15.
- Opened in 1996, the mall has over 180 stores and restaurants.
- It attracts over 15 million visitors annually.
Market Outlook
The acquisition of Blanchardstown Centre reflects the growing investor interest in the Irish retail sector, which has shown resilience despite the challenges posed by the COVID-19 pandemic.
Conclusion
The acquisition of Blanchardstown Centre by WEB SVP is a significant transaction in the Irish real estate market.
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