Almada Fórum, in Almada, Portugal Image: JLL
Investment

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

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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