This group is valued at 900 million euros, and was the first concluded by the Pradera European Retail Park SCSp fund.
The team at Capital Markets at JLL were consultants for Pradera in this purchase. According to them, these retail parks are situated beside Ikea units, and total about 500 shops. The deal should be completed on 4th April, relative to 17 assets in Germany, France and Poland. On the 31st August the purchase of the remaining 8 units in Sweden, Finland, Denmark, the Czech Republic and Switzerland will be completed.
Jeremy Eddy, Head of European Retail Capital Markets at JLL, states in a communiqué: «we are very happy to support Pradera in this complex European transaction, relying on our knowledge of the market at local and European level». He believes that «the business is a reflection of the trust in the European retail markets, concentrating on strong secondary locations, where performance can be boosted by proactive asset management».
He concludes «the European sector of large-sized retail units offers an opportunity for long term income thanks to solid rental agreement and, as such, we hope to undertake a further investment in this sector in 2017, whilst investors seek a safe income and higher returns».