Multi Corporation makes first direct acquisition since buyout from Blackstone

Multi Corporation has acquired three grocery-anchored retail centers in the Netherlands with a combined gross leasable area of almost 18,000 square meters (193,750 square feet).

The assets, acquired from funds managed by Blackstone, are the first direct investments the business has made since it completed a management buyout from Blackstone in March 2022.

The shopping centers include Valkenstaete in Valkenswaard (5,000 square meters/53,820 square feet), Scheldeplein in Vlissingen (8,000 square meters/86,111 square feet) and Veestraat in Helmond (5,000 square meters/53,820 square feet). Multi will explore options to redevelop the assets into mixed-use.

“This transaction is an important step towards Multi becoming an independent retail investor and co-investor,” said Steven Poelman, co-CEO. “We believe in the long-term value of grocery anchored retail centers, and this transaction is proof of our conviction. Our in-house design and (re) development capabilit