Pradera launches European retail parks fund
16:59
Retail property fund and asset manager Pradera has announced the first closing of the Pradera European Retail Parks fund, which, in a €900 million transaction agreed with IKEA Centres, is to acquire a total of 25 retail parks located next to IKEA stores in eight countries across the continent. The portfolio in question includes a total of 17 assets in Germany, France and Poland (acquisition expected to be completed on April 4), as well as a total of eight assets in Sweden, Finland, Denmark, the Czech Republic and Switzerland (acquisition expected to be completed on August 31). In total, the retail parks comprise approximately 500 units with a combined GLA of around 538,000 sqm. “As the world’s leading home furnishings retailer, IKEA is a strong anchor in these locations. These parks have been developed and managed by IKEA Centres and are let to major tenants including Media Markt, OBI, Decathlon and Leroy Merlin. They greatly benefit from the drawing power that IKEA stores bring to these locations,” said David Fletcher, the CEO of Pradera.
