Pradera invests in Ikea retail centers
The real estate company Pradera is buying a total of 25 Ikea retail parks in eight European countries, including Switzerland, for its Pradera European Retail Parks SCSp fund. The purchase price is 900 million euros.
Pradera is buying from Ikea Centres a portfolio of retail parks located around Ikea stores. It comprises 500 units with a leasable area of 538,000 sqm. Pradera is investing jointly with asset manager LJ Partnership.
17 assets are located in Germany, France and Poland and are to be acquired in a first transaction as of April 4, 2017. A further eight retail parks are located in Sweden, Finland, Denmark, the Czech Republic and Switzerland. This transaction is expected to close on August 31. The property in Switzerland is the retail park "Walige Shopping" in Rothenburg LU, which was opened in 2013.
Ikea Centres develops and manages retail locations with an Ikea store as an anchor. Tenants in the centers include Media-Markt, Obi, Decathlon and Leroy Merlin.
JLL advised Pradera on the acquisition, and Cushman & Wakefield acted as an intermediary for Ikea Centres.
