10 April 2025
Multi Corporation and M.O.S acquire 13.000 sq m office building in the Netherlands
– Asset represents a long-term repositioning opportunity and is a further example of Multi leveraging its in-house development capabilities
Multi Corporation, the leading pan-European platform for integrated real estate management services, and M.O.S, a Haarlem-based company known as Mother Of Space, have acquired a 13.000 sq m office building in the Dutch city of Alphen aan den Rijn.
The principal tenant in the asset is currently Wolters Kluwer, while a second block accommodates a number of additional tenants and is fully leased. In the long-term there is scope to reposition the building by converting it into a new scheme with around 250 residential units.
– Company has a pipeline of over 700 residential units across six sites
Multi is one of the only independent real estate management firms in Europe that has a truly end to end offer, from leasing and asset management through to development and repositioning, and this would be just the latest example of the business leveraging its in-house expertise to convert office or retail sites to residential. With this acquisition Multi has six development and repositioning schemes in its portfolio, which collectively represent a pipeline of over 700 residential units. It is already on site at two locations, including Grasweg in Amsterdam, where it will shortly complete on a seven storey office building. On the same site the company is also developing ten high-end apartments. Multi will begin the redevelopment of a further site where there is plans to introduce 81 residential units at the end of this year.
With housing shortages across a number of markets in Europe as well as an increasing number of retail and office assets in need of repositioning, it is anticipated that converting retail and office assets to residential will remain a key area of growth for Multi going forward. To this end, over the past few years Multi has strengthened its internal capabilities including its residential expertise by expanding its in-house development team.
– Elmar Schoonbrood, Co-CEO of Multi Corporation, commented:
“We now have a number of compelling repositioning schemes across our portfolio, building on Multi’s strong track record for building and developing attractive sites across Europe. Our end to end capabilities, from leasing and asset management through to repositioning and development, really set us apart, and means that we can deliver complex schemes in-house from start to finish. This is a really interesting transaction as this asset continues to trade strongly in its own right as an office building, but in the long-term there is clear potential to add value via an attractive new scheme. With the strong demand for new homes across Europe and an increasing number of office and retail sites ripe for redevelopment, we see clear scope to increase our pipeline of repositioning schemes still further over the coming months”
You can also check the Institutional Real Estate’s article on the acquisition.
