{"id":1004121958,"date":"2015-06-25T05:24:37","date_gmt":"2015-06-25T13:24:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004121958"},"modified":"2022-12-08T08:15:01","modified_gmt":"2022-12-08T16:15:01","slug":"blackstone-multi-say-ciao-to-italy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-multi-say-ciao-to-italy\/","title":{"rendered":"International: Blackstone, Multi Say Ciao to Italy"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004121960\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-multi-say-ciao-to-italy\/palmanova-outlet-village-in-italy\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg\" data-orig-size=\"502,385\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1434446177&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Palmanova Outlet Village in Italy\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg?w=502\" class=\"alignright size-medium wp-image-1004121960\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg\" alt=\"Palmanova Outlet Village in Italy\" width=\"300\" height=\"230\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg 502w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Palmanova-Outlet-Village-in-Italy.jpg?resize=300,230 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a> <\/em><\/p>\n<p>Multi Corp. and Blackstone Real Estate Partners Europe IV have acquired Palmanova Outlet Village, a factory outlet center of approximately 237,000 square feet (22,000 square meters) located in northern Italy, between Trieste and Venice.<\/p>\n<p>Open since 2008, the property currently hosts over 90 retailers, including Calvin Klein, Nike, Adidas, Guess and Tommy Hilfiger, and generates around three million customer visits per year.<\/p>\n<p>According to Paolo Bottelli, chairman of Multi Italy, this transaction strengthens Multi\u2019s position as a leading owner of factory outlet centers in Italy.<\/p>\n<p>Cushman &amp; Wakefield advised Blackstone in the acquisition, which brings the company\u2019s portfolio of upmarket factory outlet centers in Italy to five. The other properties are Franciacorta Outlet Village, Mantova Outlet Village, Puglia Outlet Village and Valdichiana Outlet Village.<\/p>\n<p>Blackstone\u2019s portfolio, which totals more than 1.6 million square feet (150,000 square meters) of space, comprises 650 shops. It welcomes 15 million visitors per year and records annual sales of more than $450 million (\u20ac400 million).<\/p>\n<p>Multi also announced the acquisition of Added Value Management Srl (AVM), an Italian company specializing in the management of outlet centers. AVM was founded in 2009 and served as the external manager of Blackstone owned outlet centers.<\/p>\n<p>The new subsidiary will be rebranded as Multi Outlet Management Italy and will continue to be managed by Dario Pistone, AVM\u2019s former director. It will become Multi\u2019s specialized outlet center team, focused on creating value across Blackstone\u2019s factory outlet portfolio across Italy.<\/p>\n<p>Multi now owns 12 centers in Italy, including shopping centers, neighborhood retail centers, and factory outlets. These assets generate more than $1 billion (\u20ac960 million) of retail sales and almost 45 million customer visits on an annual basis.<\/p>\n<p><em>Photo credits: Multi Corporation<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone Real Estate Partners has teamed up with the leading owner of factory outlet centers in Italy on its fifth acquisition in the country.<\/p>\n","protected":false},"author":952,"featured_media":1004121960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21749],"tags":[],"class_list":["post-1004121958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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