The leading European retail management and development company, Multi Corporation has bought a majority stake in UK specialist retail asset and property manager Realm.
The acquisition signals the return of Multi Corporation to the UK 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 centre.
Following a management buyout from Blackstone in 2022, Multi is now owned and led by co-Chief Executives Elmar Schoonbrood and Steven Poelman. With this announcement, Multi will have entered four new countries since the buyout – Switzerland, France, the UK and Denmark. The company, one of Europe’s largest independent retail managers and developers, has €5bn of assets under management, 6.000 tenants, 550 full-time employees and operates in 15 countries. Along with shopping centres, the company manages a broad range of assets including retail parks, convenience retail and high street retail and also has extensive experience of (re)developing and repositioning retail destinations, including converting retail assets to residential.
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 per cent 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.
