Multi Corporation, the pan-European retail property platform owned by Blackstone, has appointed Elmar Schoonbrood as a full-time board member and co-CEO.
He takes up the role with immediate effect alongside current board member and co-CEO Steven Poelman.
Multi said the second CEO appointment will enable the firm to ‘further develop and grow the business and meet its ambitious plans for the future’.
Schoonbrood previously served as managing director at Blackstone in London, where he managed the firm’s European and Turkish retail investments. He was also responsible for overseeing Multi Corporation for Blackstone since joining the firm in 2014.
Before joining Blackstone, Schoonbrood headed up the European non-performing loan workout team at Oaktree Capital Management and prior to that he led the European loan workout team at Morgan Stanley (CMBS Special Servicing).
Commenting on his appointment as co-CEO, Schoonbrood said: ‘Multi has become Europe’s leading retail platform for integrated real estate management services and is perfectly equipped to become the best one-stop-shop for real estate investors across Europe. The business is in a very strong position and I’m excited to help build on the success achieved to date. I also look forward to working alongside my long-standing Multi colleague and Co-CEO, Steven Poelman, whom I have worked with for over eight years.’
Multi currently manages over 80 properties in 13 countries across Europe. Since its foundation in 1982, the company has delivered over 200 mixed use projects with a total GLA of over 5 million m2, with an asset value of almost €13 bn.
