To find a lawyer use the search engine or filtering options

Sonae Sierra, the developer and service provider for vibrant retail-centred properties, has acquired a 50% stake in Balmain Asset Management Group’s Central European platform. Balmain is an experienced operating partner and multi-disciplined service provider with a strong pedigree in European retail and leisure assets. Balmain has operated for over 15 years in Poland.

With this acquisition Sonae Sierra is able to enter the Polish market and create conditions for facilitating significant expansion opportunities into other CEE markets for the new JV entity, Sierra Balmain. This Joint Venture will firstly be focusing on the continued expansion of the existing services of Balmain’s Polish portfolio, which already comprises a total of 15 shopping centres in 15 different cities in Poland. BSC Real Estate Advisors and BSC Property Management, subsidiaries of the Balmain Group, will be renamed in line with the Sierra Balmain brand but will continue to run and be governed separately to the asset management business.

Sierra Balmain will combine both the international experience in retail real estate from Sonae Sierra, with the extensive local market knowledge of the Balmain team, which will retain management of the day to day business. With more than 100 experienced professionals, managing a portfolio worth over €1 billion, including 1,170 leases across more than 430,000 sqm of GLA, the Sierra Balmain Joint Venture will be providing a combination of Asset Management, Property Management and Leasing services throughout its portfolio.

The Joint Venture will make use of both companies’ strong track records and growing service capabilities, coupled with a strong local market experience, in order to keep expanding its service business on all fronts, achieving great results and shaping tomorrow’s future in the Polish and other CEE markets.

On behalf of the SPCG, Sonae Sierra in this transaction was advised by SPCG’s Partners – Piotr Kamiński and Wawrzyniec Rajchel.

Sonae Sierra is an international retail real estate company dedicated to serving the needs of investors. Operates from corporate offices in 12 countries providing services to clients in geographies as diverse as Portugal, Algeria, Brazil, Colombia, Germany, Greece, Italy, Morocco, Romania, Russia, Slovakia, Spain, Tunisia and Turkey. Incorporated in Portugal in 1989, Sonae Sierra is owned by Sonae, SGPS (Portugal) with 70% and Grosvenor Group Limited (United Kingdom) with 30%. More information available on the Sonae’s corporate web site

 

Zamnij popup
Pop-up

By using this website, you agree to the use of cookies to ensure the website is functioning properly, for statistical purposes and for purposes of optimizing the use of the website. You can change the cookie settings in your web browser. View Privacy policy.