Strategic Value Partners Acquires Blanchardstown Centre, one of Ireland’s Leading Retail Destinations

DUBLIN, Nov. 18, 2024 /PRNewswire/ — Strategic Value Partners, LLC and its affiliates (together, “SVP”), a global alternative investment firm with approximately $19 billion of assets under management, today announced that SVP-managed funds have agreed to acquire Blanchardstown Centre, a prime retail and leisure destination in Ireland.

Blanchardstown Centre is a major retail complex in north-west Dublin, covering 1.2 million square feet and housing over 180 shops and restaurants. With an annual footfall of approximately 17 million visitors and 5,500 parking spaces, it is one of Ireland’s leading shopping destinations. Strategically connected to Ireland’s major motorways, Blanchardstown Centre is well-positioned to continue serving as a premier retail hub for Dublin and beyond.

SVP plans to make significant investments in Blanchardstown Centre, including enhancements to its food and beverage offerings. SVP will work closely with Fingal County Council, existing tenants, and Falcon Asset Management to elevate the centre’s appeal and strengthen its position as a premier retail destination for visitors and tenants alike.

“As a centrepiece in Dublin’s retail sector, we’re excited by the opportunities Blanchardstown Centre presents” said Mike Ungari, Global Head of Real Estate at SVP. “Our goal is to build on the facility’s strengths, and we are committed to ensuring Blanchardstown continues to set the benchmark for retail and leisure excellence in the region.”

With an extensive real estate portfolio built over the past two decades across U.S. and European markets, supported by a dedicated team of 10 professionals, SVP has established itself as a seasoned real estate investor with deep expertise in retail assets and shopping centres. In 2021, SVP funds led the restructuring and subsequent acquisition of Washington Prime Group, a U.S. REIT with a portfolio of approximately 90 retail properties. In 2023, SVP became the largest investor in Intu SGS, a portfolio of four large UK shopping centres, and played a leading role in its restructuring earlier this year. Led by Anders Hemmingsen, SVP’s London-based team is actively seeking to invest in European real estate, and believes it is well positioned to leverage the firm’s differentiated sourcing, investing and operating expertise in the sector this cycle.

The acquisition is expected to complete prior to year-end, subject to regulatory approvals.

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About SVP

SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $19 billion in assets under management, and since inception, has invested more than $48 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com.

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