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15 May 2017 Growth in Continental Europe remains robust in Q1 2017 Europe commercial real estate investment totalled €56.1bn in Q1 2017 according to CBRE. Trading activity in continental Europe increased despite elections in several notable markets. 15 May 2017 Retail park vacancy rates hit record low in the UK Vacancy rates in the retail warehouse market have fallen to their lowest level in more than 15 years. Research by Trevor Wood Associates said vacancy rates have fallen to 5.3%, down from 5.9% last year and well below the peak figure of 11.8% recorded in 2009. 15 May 2017 Globalisation is alive and well in the real estate sector Cushman & Wakefield’s 2017 Atlas Summary report tells the investment stories that are driving the market ahead. Despite political uncertainty, rising populism and the threat of protectionism, cross border real estate investment interest remains high and capital continues to flow in and around all areas of the world.

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TRISTAN ACQUIRES FOUR SHOPPING CENTRES FOR €122 MILLION IN MAJOR ITALIAN FORAY

Pan-European real estate investment manager Tristan Capital Partners has made a major foray into the Italian market with the acquisition by its EPISO 3 opportunity fund of four shopping centres – two in the northern Piedmont region and one each in Rome and Sicily - for around €122 million. The vendor was French listed retail developer-investor Altarea.
 
Cameron Spry, Head of Investments at Tristan Capital, said: “Italy is firmly back on the radar screens of pan-European investors and Tristan has been looking to make our first major move in the market for some time. So when the chance arose in an off-market deal to acquire these good quality shopping centres at attractive yields and with solid cash flows, we seized the opportunity. Another draw for the acquisition was that we were able to secure attractive financing terms for the assets.”
 
The portfolio of neighbourhood shopping centres is spread across three different Italian regions with a well-balanced distribution of rental income: Due Valli in the town of Pinerolo, 40 km from Turin, and La Cittadella in Casale Monferrato, 80 km from Turin, represent about 48% of the total rental income of the portfolio. The third asset in the portfolio is Casetta Mattei located in the southwestern suburb of Rome which represents 32% of the income, and the remainder is represented by the asset located in Ragusa, Sicily.
 
The assets, which are established within their own catchment areas, are all recently constructed and have an overall occupancy of 93%. Pradera will act as the asset manager for the portfolio.
 
Roberto Limetti, Managing Director and Head of Pradera Italy, said: “We are delighted to have helped Tristan source and negotiate these four acquisitions off-market and look forward to working with them on these assets to add real value through local, active asset management and to support their success.”
 
Neil Varnham, Managing Director at Pradera, commented: “We have been working with Tristan for five years and have acquired and manage eight retail warehouse parks on their behalf in the UK. We are extremely excited to assist them in this significant move into the Italian market, where we have been present since 2001, and strongly believe in its potential to deliver sound returns to investors.”

Pradera News

PRADERA RETAIL ASIA APPOINTED ASSET MANAGER FOR A FOURTH SHOPPING CENTRE IN CHINA

Pradera Retail Asia has been appointed asset manager of Mosaic Chongqing Metro Park, a 100,000 sqm shopping centre in the urban city of over 18 million people in Southwest China, further bolstering Pradera Retail Asia expansion in the region.

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PRADERA COMPLETES FIRST ACQUISITIONS FOR PRADERA EUROPEAN RETAIL PARKS FUND IN EUR 900 MILLION DEAL WITH IKEA CENTRES

Pradera, one of Europe’s leading specialist retail property fund and asset managers, has completed the first acquisitions for the Pradera European Retail Parks SCSp, a Luxembourg fund which in March signed a EUR 900 million transaction with IKEA Centres to acquire 25 retail parks in eight European countries.

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PRADERA LAUNCHES EUROPEAN RETAIL PARKS FUND IN EUR 900 MILLION DEAL WITH IKEA CENTRES

Pradera, one of Europe’s leading specialist retail property fund and asset managers, has today announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900 million transaction agreed with IKEA Centres.

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PRADERA NAMES STEFANIA EMANUELE AS FINANCE DIRECTOR, SOUTHERN EUROPE

Leading specialist retail fund and asset manager Pradera today announced the appointment of Stefania Emanuele to the role of Finance Director, Southern Europe.

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PRADERA MAKES SENIOR HIRE FOR ASIA JOINT VENTURE

Pradera, one of Europe’s leading specialist retail property fund and asset managers, today announced the appointment of Rhys Evans to the position of Head of Asset Management for its Pradera Retail Asia, the joint venture with Macquarie Retail Real Estate Management Limited announced in September.

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BARRY COX JOINS PRADERA RETAIL ASIA

Pradera, the specialist retail fund and asset manager, today confirms the expansion of its Asian team with the appointment of Barry Cox as Head of Business Development to Pradera Retail Asia, the joint venture with Macquarie Retail Real Estate Management Limited (a subsidiary of Macquarie Infrastructure and Real Assets (Hong Kong) Limited (MIRA)) announced in September.

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Background Photo:
Ragusa: Ibleo Shopping Centre