Sonae Sierra acquires stake in Balmain Asset Management

Sonae Sierra has acquired 50 percent of Balmain Asset Management, an operating partner, co-investor and multi-discipline service provider focused on European retail and leisure assets.

With more than 15 years of experience in the Polish market, Balmain is active in the provision of services in various industries and has extensive experience and recognized reputation in the commercial and entertainment fields.

With this takeover, Sonae Sierra enters the Polish market, creating a new joint venture, Sierra Balmain, and creates conditions that favor new opportunities for expansion in other neighboring countries of Central and Eastern Europe. The consortium initially seeks to extend the existing activities of its existing portfolio of Balmain, which already includes 15 shopping centers in 15 different Polish cities. BSC Real Estate Advisors and BSC Property Management, subsidiaries of the Balmain Group, will be renamed Sierra Balmain.

The new joint venture will not m