Goldman Sachs is in advanced talks to take over the Blanchardstown Centre from owner Blackstone, according to sources, 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 €1 billion in 2016, with lenders including Goldman providing financing. The property has 1.1 million square feet of retail space and 200,000 square feet of space for leisure venues, including a cinema. In December the centre was valued at about €900 million, and had about €735 million of outstanding debt, according to sources. Blackstone’s purchase of Blanchardstown was a bet on the prospects of the Irish economy at the time even as it shunned retail property investments elsewhere.

Source: The Irish Times October 23, 2020 19:39 UTC