Leading developer, owner and operator of major German shopping centres

Fund I acquired a controlling stake in mfi in 2010. At the time, mfi was Germany’s second largest shopping centre developer and manager, typically operating as a third-party service provider. The team worked to improve the company’s operations, restructure its balance sheet and ultimately transform mfi into a fully integrated owner, developer and operator, by undertaking a major external growth strategy through new acquisitions, and repositioning and development projects. By the time of Fund I’s exit, mfi’s portfolio represented around €2 billion of gross asset value (including one asset managed by mfi, but owned separately by Fund I), featuring some of Germany’s most prominent inner-city and regional prime shopping centres.

All new development projects executed during the time of Fund I’s investment were certified with a “gold medal” under the DGNB environmental assessment (the German Sustainable Building Council).

Fund I eventually sold the business to Europe’s leading listed property company, who is also Europe’s most dominant pan-European owner and operator of prime shopping centres.