Multi Corporation makes UK return with Realm investment

10th April 2024 | Jack Oliver

Pan-European retail management and development company Multi Corporation has returned to the UK after taking a majority stake in retail asset and property manager Realm.

Multi Corporation had a significant presence within the UK between 2001 and 2021, having developed or managed major retail destinations such as the Southgate Centre in Bath, Victoria Square in Belfast, and Glasgow’s St Enoch Centre.

The company has €5bn (£4.27bn) worth of assets under management across 15 countries, managing assets including retail parks, convenience stores, and high street retail. Multi Corporation also has experience in redeveloping and repositioning retail destinations, including the conversion of retail assets to residential uses.

Founded in 2001, Realm has established itself as a leading operator of retail destinations and designer outlets. Its current portfolio includes a number of high profile venues including the London Designer Outlet in Wembley Park, Resorts World, Birmingham, Lakeside Village, Doncaster, Ringsted Outlet in Denmark, and the development of the Cotswolds Designer Outlet, which is set to open in Spring 2025.

Realm’s client base has included LaSalle Investment Management, Blackstone, DTZ Investors, CBRE Global Investors, The Crown Estate, Nuveen Real Estate, ARES, Hermes Investment Management and Quintain.

Following the acquisition, Multi’s UK operations will be called Multi-Realm, with Realm managing director, Dan Mason, and leasing director, Christine Grace, remaining as co-owners of the business. They, along with all existing members of the Realm team based in the UK and Denmark, will continue to work for the combined company.

Elmar Schoonbrood, co-chief executive of Multi, said: ”We are excited to take a majority stake in Realm and partner up with the existing management team as we see a huge opportunity in the UK market for a best-in-class retail specialist. Multi has a proven track record of (re)developing, managing, and turning around retail assets across Europe and together with Realm, under the leadership of Dan and Christine, we look forward to implementing our ambitious growth plans for the UK market.”

“The combination of Multi’s pan European footprint and cross-sector expertise with Realm’s established UK operating platform and team is a compelling one. Together, we are well placed to assist owners of both stronger and distressed retail assets, either through intensive asset management programmes or by co-investing to deliver a step-up in performance.”  

Dan Mason, managing director of Realm, added: “We are delighted to welcome Multi Corporation as an investor in our company. Multi’s excellent track record and strong corporate culture make them the perfect partner for us as we seek to grow our portfolio of retail assets under management. We will be targeting bigger, premium shopping centres, retail destinations and further outlets with asset management, development and property management angles and are ideally placed to drive value for owners and investors.”

“Realm is a leading operator of outlet centres and retail destinations and has a reputation for professionalism, integrity and delivering results for our clients. Multi has an excellent track record in the European shopping centre sector and, as such, the investment by Multi in Realm combines the best of both market segments and will provide a comprehensive operating platform which will benefit our clients’ retail assets under our management.”

“Multi and Realm have the same business model, offering clients and investors a fully integrated suite of services and systems. Our experience in operating outlet centres, provides us with extensive sales and performance data, and this intelligence enables us to pursue very active asset management, maintain excellent occupier relationships and drive performance with our brand partners and clients. Multi’s operation of a large portfolio of shopping centres will give us pan European leasing insight and contacts with brands, and a service to clients and investors which, we believe, will be second to none.”

“Under our new name, Multi-Realm, we look forward to continuing to provide our clients with a very hands on and collaborative service”.


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