Pradera, one of Europe’s leading specialist retail property fund and asset managers, has completed the first acquisitions for the Pradera European Retail Parks SCSp, a Luxembourg fund which in March signed a €900 million transaction with IKEA Centres to acquire 25 retail parks in eight European countries.
The first acquisitions of the Fund are 17 assets in Germany, France and Poland. A further eight retail parks in Sweden, Finland, Denmark, the Czech Republic and Switzerland are due to complete on 31 August 2017.
David Fletcher, Chief Executive of Pradera, said: “We are delighted to complete the first phase of this landmark deal. It builds on our 17 year track record of success in managing retail investments across Europe through our firmly established asset management platforms to unlock value across our expanding portfolio.”
Pradera completed the deal with equity investment from clients of LJ Partnership, the private wealth partnership, which took a significant minority stake in the business in May 2016. JLL acted for Pradera.