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23 November 2020 Pradera agrees lettings totalling 2,500 sqm for Les Armoiries Shopping Centre in Bry-sur-Marne, France Grand Frais and Action to start trading at Les Armoiries Shopping Centre during the first half of 2021. 17 November 2020 Plus size clothing retailer complements fashion offer at Costaverde Shopping Centre Maqueda starts trading at Costaverde Shopping Centre 12 November 2020 Domoteka wins “Retail Scheme Internet Campaign of the Year” award A golden statuette for Domoteka 10 November 2020 Pradera acquires Spanish grocery portfolio on behalf of new German pension fund client Pradera completes the acquisition of a portfolio of six hypermarket assets in northern Spain on behalf of German pension fund 6 November 2020 Revealing the new Lingotto Shopping Centre in Turin, Italy The new Lingotto Shopping Centre re-opened for trading in a former FIAT car factory following a refurbishment and extension project in excess of €20 million 5 November 2020 Istanbul Cevahir awarded for Alzheimer’s disease marketing awareness campaign Istanbul Cevahir marketing campaign comes second in Felis Marketing Awards

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PRADERA FUND COMPLETES €163.4M LOAN REFINANCING WITH AAREAL BANK

Pradera, the specialist retail real estate fund and asset manager has announced the refinancing of their first fund, the Pradera European Retail Fund (‘PERF’), for a total facility of €163.4 million with Aareal Bank.

The refinancing, completed in September 2015, comprises seven shopping centres in Spain and one in Italy.

Advising on the Fund for Pradera were the Debt advisory team of JLL and Spanish law firm Uria Menéndez, with Spanish Law firm Cuatrecasas representing Aareal. 

PERF is a specialist retail property fund, launched in December 2000, initially held for an eight year life and continued for a further ten years in 2008. PERF currently consists of twelve retail properties across Italy, Spain and Greece with a Gross Asset Value (GAV) of approximately €400m.

Jonathan Weaver, Funds’ Finance Director at Pradera, comments:  “The portfolio loan refinancing represents a significant milestone for PERF, increasing the Fund’s weighted average debt term to approximately four years and also significantly reducing the Fund’s weighted cost of debt. Whilst we have seen increased competition amongst the lending market, we are pleased to continue the longstanding relationship with Aareal Bank, the Fund’s main lending partner.

The Fund is also progressing a number of accretive value added projects over the next few years and the refinancing provides the duration to realise these projects for the Fund and its investors.”

Pradera News

Pradera agrees lettings totalling 2,500 sqm for Les Armoiries Shopping Centre in Bry-sur-Marne, France

Grand Frais and Action to start trading at Les Armoiries Shopping Centre during the first half of 2021.

Read whole story

Plus size clothing retailer complements fashion offer at Costaverde Shopping Centre

Maqueda starts trading at Costaverde Shopping Centre

Read whole story

Domoteka wins “Retail Scheme Internet Campaign of the Year” award

A golden statuette for Domoteka

Read whole story

Pradera acquires Spanish grocery portfolio on behalf of new German pension fund client

Pradera completes the acquisition of a portfolio of six hypermarket assets in northern Spain on behalf of German pension fund

Read whole story

Revealing the new Lingotto Shopping Centre in Turin, Italy

The new Lingotto Shopping Centre re-opened for trading in a former FIAT car factory following a refurbishment and extension project in excess of €20 million

Read whole story

Istanbul Cevahir awarded for Alzheimer’s disease marketing awareness campaign

Istanbul Cevahir marketing campaign comes second in Felis Marketing Awards

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre