Multi Corporation invests in retail asset manager Realm

Dutch retail management and development company Multi Corporation is returning to the UK after acquiring a majority stake in retail asset and property manager Realm, which represents 45 percent of the UK outlet market.

Realm, founded in 2021, is a leading operator of retail destinations and designer outlets. Its portfolio includes the London Designer Outlet, Wembley Park, Resorts World, Birmingham, Lakeside Village, Doncaster, Ringsted Outlet in Denmark, and the Cotswolds Designer Outlet, due to open in spring 2025.

Multi Corporation, which had a significant presence in the UK between 2001 and 2021, having developed or managed major retail destinations, including the Southgate Centre in Bath, Victoria Square in Belfast, and Glasgow’s St Enoch centre, has entered four new countries, Switzerland, France, the UK, and Denmark, since its management buyout from Blackstone in 2022.

In a statement, Multi Corporation said it will manage over 160 assets in the UK and Europe, and its UK operations will be called, Multi-Realm. Realm’s managing director Dan Mason, and leasing director Christine Grace, will remain as co-owners of the business and, along with all 40 members of the existing Realm teams based in the UK and Denmark, will continue to work for the combined company.

Multi Corporation returns to the UK and invests in Realm

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.”

Mason 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."