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PRADERA CONTINUES GROWTH WITH OPENING OF FIRST GERMAN OFFICE

Pradera, the specialist international retail real estate fund and asset manager, today announced the opening of its first German office as the company continues its successful growth through expansion across Europe and into Asia.

The office in Munich is led by newly recruited Head of Germany, Berith Ironside. Berith, a German native, brings 27 years’ experience in Pan European real estate asset management to the post. She is tasked with unlocking value in Pradera’s growing portfolio of retail properties in a country where it sees strong opportunities for investors and asset owners.

Berith’s local team will manage the German assets held in the Pradera European Retail Parks SCSp fund, which last April acquired 17 retail parks from IKEA Centres. Ten are in Germany, including assets in Cologne, Hamburg and Ulm. The new office is also responsible for managing assets in the Pradera Open-Ended Retail Fund (POERF). These include the Real Hypermarket in Bamberg along with the Äppelallee-Centre in Wiesbaden, which POERF acquired in early 2016 for EUR 82 million.

Prior to joining Pradera, Berith was Head of International Expansion at AGRE and set up and ran the German portfolio for Cityhold Property AB.  In previous roles, Berith led the European Foreign Investment Team at Allianz, was Senior Fund Manager for a Pan-European Retail Fund at Grosvenor in Paris, established Savills IM in Germany and built up and was Fund Manager of the Savills IM German Retail Fund.

David Fletcher, Chief Executive of Pradera, said: “The opening of our first German office under Berith’s expert leadership is a natural progression in our ambition to be the go-to partner for retail real estate fund and asset management across all retail asset classes. It provides significant opportunities for investors and asset owners in one of Europe’s most resilient economies, where we anticipate strong appetite for high quality retail product, now and in the future.”

The move is the latest major initiative to follow a significant minority investment by multi-family office LJ Partnership in April 2016. That deal signalled Pradera’s plans to take its trusted platform into untapped segments of the retail property market and new geographies. Basing asset management teams with local know-how on the ground is central to this growth strategy and the delivery of better returns across all asset classes for investors and retailers.

Pradera has since established Pradera Retail Asia, a joint venture with Macquarie Retail Real Estate Management Limited (MIRA). Last May it added a fourth retail property in China – Mosaic Chongqing Metro Park – to assets already managed in Qingdao, Xi’an and Shanghai, with a total gross leasable area (GLA) of 200,000 sqm. This increasingly global perspective sees Pradera sharing best practice to further improve performance and returns in a €3.3 billion portfolio that now includes 58 shopping centres and retail parks worldwide.

Pradera News

Pradera appoints Civil Engineer to the role of Technical Asset Manager

Barbara Armanelli joins Pradera Italy

Read whole story

Pradera agrees lease renewal with French retailer for a further 12 years

Truffaut extends lease at Les Armoiries Shopping Centre, Bry-sur-Marne, for 12 years.

Read whole story

A new fashion retailer for Istanbul Cevahir

ltınyıldız Classics starts trading at Istanbul Cevahir

Read whole story

Domoteka releases additional dates for “Domodesign” due to popular demand

Interior design-focussed webinars and workshops are back at Domoteka

Read whole story

Homepark Janki welcomes four new tenants in February 2021

Bike Moto, DEKO Meble, Bafra Kebab and Ramen Duck open at Homepark Janki

Read whole story

A bathroom specialist for Homepark Franowo, Poznań, Poland

Jeta starts trading at Homepark Franowo

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre