Multi Corporation has purchased a Burger King restaurant in Rotterdam, the Netherlands, which was bought from a private investor. This marks Multi’s fourth retail acquisition since the management buy-out in March last year.
The Burger King restaurant, which has a long-term rental agreement, is located in Zuidplein shopping centre. It is home to about 150 retail units, with a mix of convenience, grocery, fashion and a wide range of food & beverage. The centre, with a Gross Leasable Area of 55,000m², was built in 1974 and is currently undergoing a major refurbishment. The adjacent square and bus terminal station, one of the busiest in the Netherlands, were recently upgraded.
“We are thrilled with our first standalone fast food acquisition. As we have mentioned before, we see long-term value in grocery-anchored convenience assets, dominant shopping centres and fast food locations,” said Elmar Schoonbrood, Co-CEO of Multi Corporation. “This acquisition is a 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.”
