Property fund Pradera, backed by UK private wealth partnership LJ Partnership, buys 25 Ikea retail parks across Europe in €900m deal

The acquisition was made by the Pradera European Retail Parks SCSp fund. Pradera chief executive David Fletcher said: “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.”Read more: Swedish furniture retailer and meatball pusher Ikea’s profits are up 20pcThe deal has been announced at the start of a year when Pradera is looking to expand further, having launched a joint venture with Australian investment bank Macquarie in Asia last year. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNovelodgeThe 50 Most Beautiful Women in the WorldNovelodgeUndoExcellence Punta CanaBook 7 nights for the Price of 6Excellence Punta CanaUndoJournalistateThe One WD40 Trick Everyone Should Know AboutJournalistateUndoBreast Cancer | Search AdsRed Flag Signs of Metastatic Breast CancerBreast Cancer | Search AdsUndoNowThisRanking the Best Shows and Movies to Watch on NetflixNowThisUndoTips and TricksThis Is Why You Should Put a Clove of Garlic under Your PillowTips and TricksUndoAnyMuscle.comNatural Ways to Reduce Your Risk of Suffering From CancerAnyMuscle.comUndoCleverst25 Songs That Will Go Down As The Best Ever WrittenCleverstUndoArticles StoneThe US Built A New Submarine The World Is Afraid OfArticles StoneUndo A retail property fund and asset manager has agreed a €900m (£780m) deal for 25 Ikea retail parks across Europe.Pradera, which is backed by UK-based private wealth partnership LJ Partnership, is buying centres in eight countries across the continent as part of the deal. The retail parks, situated next to Ikea stores, comprise around 500 units with a land area of around 538,000 square metres.Read more: Big win for Wincanton as it inks four-year deal with IkeaSome 17 of the assets are based across Germany, France and Poland, with the deals expected to complete on 4 April. A further eight parks are in Sweden, Finland, Denmark, the Czech Republic and Switzerland and are due for completion on 31 August.LJ Partnership acquired a “significant minority stake” in Pradera in May last year. The private wealth partnership’s chief executive Andrew Williams said: “We are delighted to have backed the acquisition process through our partnership with Pradera.“LJ Partnership’s strategy of partnering with best in class managers continues to deliver excellent investment opportunities; execution and management capability and returns profiles.” whatsapp William Turvill Property fund Pradera, backed by UK private wealth partnership LJ Partnership, buys 25 Ikea retail parks across Europe in €900m deal Share Pradera chairman Colin Campbell said: “The acquisition of this portfolio and the creation of Pradera European Retail Parks SCSp demonstrates the significant synergies between Pradera and LJ Partnership.“Pradera was able to source and secure the portfolio, enabling clients and associates of LJ Partnership to participate in an investment they otherwise wouldn’t have had access to.”JLL advised Pradera on the deal, while Cushman & Wakefield acted for Ikea Centres. Wednesday 8 March 2017 11:12 am More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org

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