Multi Mall Management Germany GmbH, has acquired 100% of the shares of SEC Center Management GmbH. Hamburg-based SEC currently manages nine shopping centers.
With this step Multi is expanding center management activities in Germany, while SEC gain an internationally active partner for further growth and the opening up of new areas of opportunity.
Multi Mall Management will now be Chaired by Susanne Klos (previously Managing Partner of SEC.) Heidrun Quilitzsch (Multi), Stefan Andraschak (SEC) and Hans Steunenberg (Multi), will manage the company's operations.
Axel Funke, CEO of Multi Development Germany said that the acquisition of SEC is a logical step in continuing Multi's policy: "With SEC, we complement our activities in Germany in an excellent way. SEC stands for professionalism and quality in management with high customer focus, and will enable us to offer partners, investors and city areas, our entire expertise in the development and operation of retail real estate. I look forward to working with Ms. Klos and her team, and welcome all employees of SEC."
Susanne Klos, also believes the purchase of her company by Multi is a great opportunity for the future: "I have, in 10 years, built SEC into a successful company. After we reached our present position it was time to find a suitable partner with which to develop further. Multi was the first choice in this decision. Multi has a great corporate culture, high professional competence in retail development and management in 14 countries in Europe, and has a strategy that fits us perfectly. I am looking forward to the new challenge".
Multi Mall Management's goal is to further strengthen existing customer relationships and to further expand its mall management business. In combination with Multi's project development expertise the company is also well placed for the repositioning of existing inner-city retail real estate.