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credit: Multi Corporation
credit: Multi Corporation

Multi Corporation enters France with four new shopping center management mandates

Multi Corporation has been appointed as property manager for four shopping centers in France owned by Retail Property Investments SAS (RPI). Building on an existing partnership, Multi Corporation will provide its expertise to enhance the performance and success of RPI’s portfolio. The expansion into France marks Multi Corporation’s second entry into a new country, following Switzerland, in just one year.

RPI’s French shopping center portfolio contains four shopping centers, with a combined GLA exceeding 150,000 sq m. The portfolio includes Docks Vauban, the largest shopping center in the portfolio, located in Le Havre, with a GLA of approximately 54,000 sq m. Docks Vauban features renowned anchor tenants such as Primark, Zara, H&M, and Lidl. Additionally, the two assets in Rouen, Docks 76 and Saint Sever, have anchor tenants Carrefour and E. Leclerc, respectively, along with H&M. In Strasbourg, Rivetoile stands out for its strong fashion offerings, featuring anchor tenants such as Zara, Bershka, Mango, and H&M. All four shopping centers offer leisure and entertainment options, including cinemas, to enhance the experience for visitors.

The entry into France represents Multi Corporation’s second expansion into a new country since completing a management buy-out in March 2022. In June 2022, Multi Corporation set up an office in Switzerland when it was awarded the asset and property management mandate for the Mall of Switzerland. Following the appointment as property manager for the four shopping centers in France, Multi has now established an office in France to support its operations in the country.

Between 1997 and 2012 Multi was active in the French market. At that time, Multi Corporation developed its first asset in the country, Les Quatre Chemins in Vichy, followed by La Vache Noire in Arceuil and Les Arcades Rouge in Cholet. Since it was established in 1982 as a shopping center, office and residential developer in the Netherlands, Multi Corporation has expanded its footprint to include, Belgium, Germany, Italy, Poland, Portugal, Spain, and Turkey. Including its recent entry into France, Multi Corporation now operates in 14 countries across Europe and Turkey.

“We are proud to have been selected by our trusted client, RPI, to manage their retail portfolio in France. We are excited to work together with RPI and apply our extensive retail knowledge in order to maximize the potential of their French retail portfolio,” said Elmar Schoonbrood, Co-CEO of Multi Corporation. “Equipped with our new office and a team of industry experts on the ground, we are fully prepared to expand our business in France.”