Blackstone Real Estate Funds complete acquisition of Multi Corporation

Blackstone announces that its real estate funds have completed the acquisition of Multi Corporation.

Multi is a leading owner, manager and (re)developer of high quality shopping centres across Europe. As a Blackstone portfolio company, Multi will be a well-capitalised, growth-oriented, pan-European retail platform focussed on creating, managing and improving sustainable rental income.

Multi currently owns or manages 56 shopping centres, which welcome more than 330 million visitors per year, spending an estimated 3.2 billion euros annually in more than 5,200 stores, restaurants and attractions. Multi has over 500 employees across its mall management, asset management, development and support businesses, and is active in 13 European countries, including Turkey where it is the largest owner and manager of shopping centres.

Dick van Well, formerly Chairman of Multi’s supervisory board has joined the management board as its chairman. Heino Vink and Mark van den Berg will continue to serve on the company’s management board.