ACROSS | The European Retail Real Estate Magazine

Investment

Almada Fórum in New Hands – Merlin Properties in a Buying Mood

Almada Fórum, in Almada, Portugal Image: JLL

JLL, acting for Blackstone, has completed the sale of Almada Fórum, from the Rio Tejo retail portfolio, to Merlin Properties. The portfolio originally comprised three prime shopping centers and a retail park.

Almada Fórum, in Almada, Portugal, is the last property to be sold. Combined, the Rio Tejo portfolio represents the largest ever portfolio transaction in Portugal at over €900 million.

Elmar Schoonbrood, Managing Director, Real Estate, at Blackstone, said, “The sale of Almada Fórum is another successful example of our strategy of buying and stabilizing complex assets and portfolios. Through active asset management and key value-add initiatives, Blackstone enhanced the tenant mix and consumer experience across the portfolio.”

The Rio Tejo portfolio included Fórum Montijo, Fórum Sintra, Sintra Retail Park, and Almada Fórum and counted more than 210,000 sq m of GLA, with 542 national and international tenants.

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Investment

TH Real Estate launches next platform for German retail

Marcus Mack, from TH Real Estate, believes that the country’s retail market is more active than ever before. As a result, he and his team have recently set up a new Germany-focused retail vehicle. With a target portfolio size of €400 million, it has a proposed term of 10 years, with a two-year renewal option.

First Crowdfunding Offer at a Mall in Austria

The Home Rocket crowdfunding platform has been activated on behalf of the ece in Kapfenberg, Styria. Its objective is to contribute to the financing of a health care area in the shopping center.

Adjustment in pricing levels expected

According to Adam Pearce, Managing Partner at Kintyre, the currently inflated investment market for retail assets is not substantiated by the underlying trading environment for traditional brick-and-mortar retailers.

One transaction quickly follows the next

The European retail real estate industry was on a particularly intensive shopping spree over the last days and weeks.

Takeover-wave in the international shopping center industry

Hammerson, the British real estate group, rejected yet another takeover offer by the French Klépierre Group, as the industry in general seems to be particularly interested in mergers right now.

In times of disruptive markets, institutional real estate investors want to make sure that they are betting on the right horse

An exclusive ACROSS interview with Steffen Hofmann and Klaus Mennickheim, Managing Partners of iMallinvest Europe GmbH.