October 22, 2024
Blackstar Real Estate, the shopping centre asset management company led by Sabri Marsaoui, has signed an agreement with real estate investor Novara Global Partners, to acquire and manage a £100 million real estate portfolio.
The joint venture will target commercial real estate – specifically shopping malls and town centre assets with development potential across the UK.
Blackstar provides bespoke asset and development management services by partnering with private equity firms, institutional investors, family offices and local authorities to deliver value enhancement and transformational change.
Novara Global Partners is a distinguished real estate investment firm with a specialised focus on the UK and top-tier European markets. Novara aims to deliver strong risk-adjusted returns by investing in assets that are not only well-positioned for current conditions but also resilient to future market changes to ensure that investors can achieve sustained performance across diverse sectors.
Sabri Marsaoui said: “Together with Novara, we look forward to delivering our full end-to-end service; seeking out those opportunities that will not only meet our investment criteria, but just as importantly, bring about positive change for those assets and the communities they serve, through our asset management expertise.”
A spokesperson for Novara Global Partners added: “By combining the precision and insight of global financial leaders with the agility of a boutique firm, we offer bespoke solutions designed to achieve sustainable growth, targeting opportunities with an attractive going-in basis, a discount to peak valuation, and a strong cash-on-cash profile.”
