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credit: Multi Corporation
credit: Multi Corporation

Multi Has Bought A Majority Stake In UK Specialist Retail Asset And Property Manager Realm

The acquisition signals the return of Multi Corporation to the United Kingdom where it had a significant presence between 2001 and 2021 having developed or managed major retail destinations across the country including the Southgate Centre in Bath, Victoria Square in Belfast, and Glasgow’s St Enoch center. In addition, Multi will also enter Denmark through this investment.

Realm was founded in 2001 and has established itself as a leading operator of retail destinations and designer outlets in the UK, building up a strong client base among institutional investors having worked on 19 properties representing 45% of the UK outlet market. Realm’s current portfolio includes a number of high-profile venues including the London Designer Outlet, Wembley Park, Resorts World, Birmingham, Lakeside Village, Doncaster, Ringsted Outlet in Denmark, and the development of the Cotswolds Designer Outlet, opening in Spring 2025.

Multi will manage over 160 assets in the UK and Europe with a GLA of approximately 2,7 million sq m and an estimated total value in excess of 5 billion euros. The UK and Denmark operations will be called Multi-Realm. Realm Managing Director, Dan Mason, and Leasing Director, Christine Grace, will remain as co-owners of the business. Multi-Realm has 40 employees which are based in the UK and Denmark.

”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,” says Elmar Schoonbrood, Co-Chief Executive of Multi. “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,” adds Elmar Schonbrood. “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.”  

“We are delighted to welcome Multi Corporation as an investor in our company,” comments Dan Mason, Managing Director of Realm. “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.”