The Burger King restaurant, which has a long-term rental agreement, is part of the shopping center Zuidplein. The center is home to about 150 retail units, with a mix of convenience, grocery, fashion, and a wide range of food & beverage. The center, with a Gross Leasable Area of 55,000 sq m, was built in 1974 and is currently undergoing a significant refurbishment.
The adjacent square and bus terminal station, one of the Netherlands’s busiest, was recently upgraded. “We are thrilled with our first standalone fast food acquisition. As we have mentioned, we see long-term value in grocery-anchored convenience assets, dominant shopping centers, and fast food locations,” says Elmar Schoonbrood, Co-CEO of Multi Corporation. This acquisition is proof of our conviction that fast food is an excellent investment class, even in a higher inflationary environment. We are actively looking for similar opportunities across Europe.”
Multi Corporation, which started as a developer in 1982, manages more than 80 shopping centers across Europe and Turkey. In March 2022, the company became independent following a management buy-out. Since then, it has expanded to different asset classes and is also actively investing and developing again. In July, Multi won management mandates for two offices and a hotel in Spain. It additionally took over a competing retail management platform in Germany. In September, Multi acquired three grocery-anchored retail assets in the Netherlands. In October, the company was appointed asset manager for the Central in Bratislava, Slovakia, which will be repositioned in 2023.