The new assets under management (AUM) that Multi has been awarded are in Germany, Italy, Slovakia, Spain and Switzerland. The top-5 of newly acquired assets include Quincy in Cologne, Vulcano Buono in Naples, Gran Roma in Rome, Central shopping centre in Bratislava and Mall of Switzerland.
First aquisition since MBO
The acquisition of three retail assets in the Netherlands, announced earlier this month, is the first direct real estate investment since the MBO six months ago. Multi took over three grocery anchored retail centres with a combined GLA of almost 18,000 sq m from funds managed by Blackstone. Multi has been exploring options to develop those assets into mixed-use.
40 years of experience
Multi started 40 years ago as a developer in the Netherlands, before expanding to countries like Portugal, Germany, Belgium, Czech Republic, Spain, Italy and Turkey, where offices, apartments and shopping centres were developed. The company recently re-entered the French market and also considers a comeback to the UK, where it used to manage or develop retail properties, including the Stratford Shopping Centre in London, the Houndshill Shopping Centre in Blackpool, SouthGate in Bath, St Enoch Centre in Glasgow and Victoria Square in Belfast.
“Multi has gained a wealth of experience over the last four decades but still retains the entrepreneurial spirit of a start-up company. We are growing again and hiring talent across multiple disciplines”, says Steven Poelman, co-CEO of Multi Corporation. “Our ambition is to become Europe’s largest independent retail operating partner. We can source, underwrite, co-invest, manage and (re)develop retail assets across Europe.” adds Elmar Schoonbrood, co-CEO.
Multi Corporation has developed over 200 real estate project assets across different asset classes in the past 40 years. With over 550 employees in 13 countries across Europe, the company offers a range of capabilities, including property management, asset management, ESG advisory, (re-)development, refurbishment, and capital market services.