Sonae Sierra has acquired a 50 percent stake in Balmain Asset Management Group’s Central European platform.
Balmain is an operating partner and multi-disciplined service provider with a strong pedigree in European retail and leisure assets. 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 joint venture 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 centers 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. The new joint venture will not be a direct investor but will continue to
