Blackstar and Novara eye £100m shopping centre spree

Blackstar Real Estate and Novara Global Partners have partnered to acquire and manage a £100m real estate portfolio. The joint venture will focus on commercial real estate, particularly shopping centres and town centre assets with development potential throughout the UK. Last week, Blackstar also partnered with the Association of Town & City Management to advise on structural changes in town centres.  Sabri Marsaoui, founder of Blackstar Real Estate, 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.”