Goldman Sachs Group is in advanced talks to take over Ireland’s largest shopping centre from owner Blackstone Group , according to three people with knowledge of the matter, as the pandemic prompted retailers to close their doors and sent rent collection plunging. Blackstone bought the Blanchardstown Centre in northwest Dublin for close to €1bn in 2016, with lenders including Goldman providing financing. Blanchardstown suffered a blow earlier this year when Debenhams – one of its key tenants – closed its doors and exited the country. The property boasts 1.1 million sq ft of retail space and 200,000 sq ft of space for leisure venues including cinemas. In December, the centre was valued at about €900m and had about €735m of outstanding debt, according to the people familiar with the matter.

Source: Irish Independent October 24, 2020 01:30 UTC