Multi Corporation has acquired three grocery anchored retail centres in the Netherlands with a combined gross leasable area of almost 18,000m². The assets, acquired from funds managed by Blackstone, are the first direct investments the business has made since it completed a management buy-out from the world’s largest alternative asset manager in March this year. The shopping centres include Valkenstaete in Valkenswaard (approx. 5,000m²), Scheldeplein in Vlissingen (approx. 8,000m²) and Veestraat in Helmond (approx. 5,000m²). Multi will explore options to redevelop the assets into mixed-use.
Steven Poelman, Co-CEO, said: “This transaction is an important step towards Multi becoming an independent retail investor and co-investor. We believe in the long-term value of grocery anchored retail centres, and this transaction is proof of our conviction. Our in-house design and (re) development capabilities can be fully utilised to transform these centres into mixed retail and residential assets. We are excited by this acquisition and are actively looking for additional investment opportunities”.