The portfolio of retail parks situated next to Ikea stores comprises around 500 units with a GLA of around 538,000 sq.m. Completion on 17 assets located in Germany, France and Poland is expected on 4 April 2017, with a further eight retail parks in Sweden, Finland, Denmark, the Czech Republic and Switzerland due to complete on 31 August.
David Fletcher, Chief Executive of Pradera, explained that the properties being acquired from Ikea provide an excellent portfolio for the fund, which has been established to invest in income-producing retail parks across Europe.
“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 brings to these locations,” he says.
JLL was the advisor for the buyer and Cushman & Wakefield served as the advisor for the selller.
Pradera Closes Large Deal with Ikea
Nordic — Pradera has announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900M transaction agreed with Ikea Centres, the fund has signed a contract to acquire 25 prime retail parks next to Ikea stores in eight European countries.
Maria Olsson Äärlahtmaria@nordicpropertynews.com