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27 July 2018 Pradera and joint venture partner AXA Investment Managers - Real Assets complete acquisition of the 8Gallery shopping centre in Turin, Italy, for €105 million Pradera and AXA Investment Managers complete acquisition of the 8Gallery shopping centre in Turin, Italy. 23 May 2018 Mosaic Shanghai welcomes Fila's largest flagship store in Greater China Retail asset management specialist Pradera Retail Asia, the asset manager of Mosaic Shanghai, announced today that international sportswear brand FILA has relaunched its flagship store at Mosaic Shanghai. 13 March 2018 Mosaic Qingdao Welcomes Opening of the First Eartharbor Store in Qingdao Eartharbor, which innovatively combines boutique supermarket, specialty restaurants and IP concept, joins an expanding list of retailers merging online and offline experiences as people shift to quality-oriented purchases and experience-based consumption.

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Meydan Sokak. Mermerler Sitesi
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A Blok 6A
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Tel: +90 212 350 90 71
Fax: +90 212 351 40 49
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Senovazne namesti 8
110 00 PRAGUE 1
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Fax: +420 224 423 333
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Pradera Management Poland sp. o.o.
Homepark Targówek
Domoteka, 1st floor
Malborska 41 str.
03-286 Warsaw
Poland
Tel: +48 22 222 15 15
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Pradera Management Germany GmbH
c/o Mindspace, Viktualienmarkt 8
D-80331 Munich
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Pradera Hong Kong Limited 1202
Ruttonjee House
11 Duddell Street
Central
Hong Kong
Tel: +852 3107 3820
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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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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.”

Pradera News

Pradera and joint venture partner AXA Investment Managers - Real Assets complete acquisition of the 8Gallery shopping centre in Turin, Italy, for €105 million

Pradera and AXA Investment Managers complete acquisition of the 8Gallery shopping centre in Turin, Italy.

Read whole story

Mosaic Shanghai welcomes Fila's largest flagship store in Greater China

Retail asset management specialist Pradera Retail Asia, the asset manager of Mosaic Shanghai, announced today that international sportswear brand FILA has relaunched its flagship store at Mosaic Shanghai.

Read whole story

Mosaic Qingdao Welcomes Opening of the First Eartharbor Store in Qingdao

Eartharbor, which innovatively combines boutique supermarket, specialty restaurants and IP concept, joins an expanding list of retailers merging online and offline experiences as people shift to quality-oriented purchases and experience-based consumption.

Read whole story

Pradera Retail Asia to welcome Asia’s first Dungeon attraction to Mosaic Shanghai

Retail asset management specialist Pradera Retail Asia, the asset manager of Mosaic Shanghai, delivers a warm welcome for the introduction of The Shanghai Dungeon at Mosaic Shanghai. A groundbreaking ceremony was held today, marking the first public debut of the ‘Dungeon’ attraction in Asia.

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Mosaic Shanghai Launches M-Square to Create Exciting New Landmark

Global retail asset management specialist Pradera Retail Asia, the asset manager of Mosaic Shanghai, has announced today the opening of M-Square at Mosaic Shanghai, with a ceremony attended by senior executives from Pradera Retail Asia and Mosaic Shanghai, as well as tenant representatives

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PRADERA APPOINTS JOINT HEADS OF TURKEY OFFICE

Pradera, the specialist international retail real estate fund and asset manager, has appointed Sabiha Güleç and Sevgi Ocak as Joint Heads of its Turkey office.

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Ragusa: Ibleo Shopping Centre