Morgan Stanley Backs SVP With €400M Loan To Land Blanchardstown Centre

Barchart · 11/25 20:14
U.S. investment bank Morgan Stanley has financed Strategic Value Partners' circa €560M acquisition of Blanchardstown Centre in Dublin, Ireland’s biggest mall, with a loan of about €400M, CoStar reported. Despite attracting 16 million people annually and with a catchment of 1.9 million people, the third sale of Blanchardstown Centre in around eight years has seen its value fall by nearly €400M. In 2016, Blackstone paid €950M for Blanchardstown Centre from Stephen Vernon’s Green Property, making it the most valuable sale of a single property in the state's history. By August 2020, Blackstone was reportedly prepared to surrender control if a debt deal with its lenders...