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Goldman Sachs to Sell Blanchardstown Centre in Ireland to SVP
Key Points
- Strategic Value Partners (SVP) has agreed to purchase Blanchardstown Centre in Ireland from Goldman Sachs.
- Goldman Sachs appointed Eastdil Secured and CBRE to find a buyer for the shopping center.
- The sale price is expected to be between €650 million and €695 million.
Overview
Strategic Value Partners (SVP), an opportunistic credit firm, has agreed to purchase Blanchardstown Centre in Ireland from Goldman Sachs. The sale price is expected to be between €650 million and €695 million. Goldman Sachs appointed Eastdil Secured and CBRE to find a buyer for the shopping center.
Blanchardstown Centre is one of the largest shopping centers in Ireland. It is located in Dublin 15 and has over 100 stores. The center was opened in 1996 and has been expanded several times since then.
The sale of Blanchardstown Centre is part of Goldman Sachs' strategy to sell off non-core assets. The investment bank has been under pressure to improve its profitability and has been selling off assets to raise cash.
About Strategic Value Partners
Strategic Value Partners (SVP) is an opportunistic credit firm that invests in distressed assets. The firm was founded in 2001 and has offices in New York, London, and Tokyo.
SVP has invested in a variety of assets, including real estate, corporate debt, and sovereign debt. The firm has a track record of generating strong returns for its investors.
The Future of Blanchardstown Centre
SVP has not yet announced its plans for Blanchardstown Centre. However, the firm is likely to invest in the center to improve its performance.
Blanchardstown Centre is a valuable asset and SVP is likely to be able to generate a strong return on its investment.