Friday 30 September 2016

Blanchardstown Centre bought by private equity giant Blackstone

Published 17/06/2016 | 13:09

The Blanchardstown Centre in Dublin
The Blanchardstown Centre in Dublin

Blackstone has completed a deal to take over the Blanchardstown Centre in one of the biggest property deals in the history of the state.

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The US private equity giant is believed to have paid Green Property at €950m for the centre.

The deal is expected to close this summer pending relevant regulatory approvals.

In a statement, Anthony Myers, Head of European Real Estate at Blackstone, said: "This is a further investment by us in Dublin and underlines our commitment to Ireland and belief in the strength of its economy.”

Blanchardstown Centre is a 1.2 million square foot retail complex comprising over 180 leading stores, together with numerous restaurants and leisure facilities, including a 9-screen cinema. There is capacity for an additional 1.6 million square feet of development across retail, residential, office and leisure. Located in north-western Dublin and linked to Ireland’s major motorways, Blanchardstown Centre is one of Ireland’s most accessible and premier retail destinations and continues to be well placed to serve Dublin and beyond, Blackstone added.

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