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15 March 2017 Germany is ahead of the UK as the most attractive place to invest & the Nordics enters the top three The most attractive country for real estate investments in EMEA. Germany (22%) retains the top spot, beating the UK (20%) for the second consecutive year. 13 March 2017 Global Consumers feel the pinch Household spending around the world has benefitted from three powerful tailwinds in 2014-2016 namely cheap money and low debt servicing burdens, cheaper energy and second round effects via transport costs and recovering labour markets shifting millions of unemployed into work. 8 March 2017 Retail tenants emerge from cyberspace Many online retailers have recognised the need to create a physical shopping experience for their customers and further market their brands as they grow.

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London
Pradera Limited
Eldon House
2-3 Eldon Street
London EC2M 7LS
England
Tel: +44 20 7539 5432
Fax: +44 20 7504 8425
Madrid
Pradera Management Spain S.L.
C/ Jose Ortega y Gasset, 20 7a
28006 Madrid
Spain
Tel: +34 91 512 0224
Fax: +34 91 512 0280
Milan
Pradera Management Italy S.r.l.
Piazza Cavour 2
20121 Milano
Italy
Tel: +39 02 3657 8400
Fax: +39 02 3657 8438
Istanbul
Pradera Garimenkul Yönetimi Ve Ticaret Limited Sikreti
Meydan Sokak Mermerciler Sitesi
Edin Suner Plaza A, Blok 6A
Akatlar, BeÅŸiktaÅŸ
Istanbul
Turkey
Tel: +90 212 350 90 71
Fax: +90 212 351 40 49
Prague
Pradera Management Czech Republic
Senovazne namesti 8
110 00 PRAGUE 1
Czech Republic
Tel: +420 224 423 331
Fax: +420 224 423 333
Warsaw
Pradera Management Poland
Sp. z o. o.
ZÅ‚ote Tarasy Skylight, 5th floor
ul. ZÅ‚ota 59
00-120 WARSAW
Poland
Tel: +48 22 222 15 15
Fax: +48 22 222 15 22
Hong Kong
Pradera Hong Kong Limited 1202
Ruttonjee House
11 Duddell Street
Central
Hong Kong
Tel: +852 3107 3820
Shanghai
Pradera Retail Asia
Level 5
Unit 502
No. 353 Nanjing East Road
Huangpu District
Shanghai 200001
China
Tel: +86 21 6029 3599
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Home News & Media Press Releases

Successful conversion of Pradera Open-Ended Retail Fund to a German “Spezialfonds”

Europe’s leading specialist retail property fund manager, London based, Pradera, has completed the conversion of its EUR 145 million public mutual real estate fund, the Pradera Open-Ended Retail Fund (POERF), into a German institutional fund (‘Spezialfonds’).

POERF was launched in 2009 on the IntReal service KAG fund platform as a German public mutual fund specialised on retail property in Europe, structured as an investment vehicle for institutional clients only.  Since the launch of the Fund, the German legal framework for public mutual funds has changed significantly, resulting in institutional clients no longer being allowed to allocate new investments to the Fund.  By undertaking a conversion to a Spezialfonds, and the subsequent adjustment of the Fund’s rules, POERF will remain eligible for its target clients, and importantly enabling a platform for further growth.  

Simon Cairns, Pradera’s fund director, says, “The changed legislation was disappointing as it frustrated our original growth plans for the fund.  We are though very pleased to have successfully changed the fund’s status which was a complex project and required the approval of all investors.  We now look forward to continuing with our original aim to create a portfolio of high performing retail properties with performance maximised by our specialist retail property knowledge and local asset management teams.” 

Currently, the POERF portfolio comprises seven retail assets in the United Kingdom, Germany and Poland with an investment volume of around EUR 145 million.  Pradera’s aim is to grow the fund to a total investment volume of EUR 500 million with a target return of between seven to 10 per cent over ten years, and an average dividend of five to six per cent.  Pradera uses Frankfurt based Selinus Capital GmbH as its exclusive distribution partner.

Cairns added “Having paid a dividend to investors, equivalent to 5% on equity last year with then capital growth on top, we are on track to delivering our target returns to investors”.  

Michael Schneider, managing director of IntReal, says: “There is a growing need for traditional open ended funds to convert to Spezialfonds in order to ensure the ongoing involvement of institutional investors. Pradera is the leading specialist retail fund manager in Europe and we are pleased to be able to partner them in this next step for their POERF.”

Press Releases

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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PRADERA NAMES DAVID FLETCHER AS CHIEF EXECUTIVE

Pradera, one of Europe’s leading specialist retail property fund and asset managers, today announced the promotion of David Fletcher to Chief Executive.

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PRADERA SECURES THREE MAJOR RETAIL BRANDS AT WHITE LION RETAIL PARK, DUNSTABLE

Pradera, one of Europe’s leading specialist retail fund and asset managers, secures three high profile occupiers at its White Lion Retail Park, Dunstable, UK.

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