Amsterdam, 26 September 2022
Multi Corporation has sold a company that owns a development scheme in Lisbon on behalf of funds managed by Blackstone. The development site has excellent transportation links as it is located between the city’s central business district and Lisbon’s international airport. The site, called Metropolis North, can accommodate the development of over 14,000 sqm of office space.
In 2016, Multi developed an adjacent 14,000 sqm office building in the southern part of the Metropolis location, which was subsequently sold.
“Through years of engagement with the Lisbon municipality, we managed to create a unique office location, which includes a significant improvement to public transportation. Our ability to design, develop and execute complex urban regeneration projects is one of Multi’s key strengths,” explains Elmar Schoonbrood, co-CEO of Multi Corporation.
Multi Corporation, a leading, Pan-European integrated service platform for real estate assets, completed a management buy-out in March this year. The company has developed over 200 real estate projects across different asset classes over the past 40 years. It currently manages more than 80 assets across Europe and Turkey. With over 550 employees in 13 countries, the company offers a complete range of capabilities, including property management, asset management, ESG advisory, (re-)development, refurbishment, and capital market services. As an independent company, Multi Corporation is ideally placed to invest in retail and to partner with real estate investors to drive value.
The development plot has been acquired by companies of the group Atenor for an undisclosed sum.