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26 January 2021 Pradera signs 523 new leases and lease renewals in 2020 Despite a challenging retail environment and extensive lockdowns resulting from Covid-19, Pradera signed 523 new lettings and lease renewals on 235,000 sqm GLA in the 12 months to 31 December 2020. 25 January 2021 Pradera Italy is looking for an Accountant to join its Property Administration Services team We are currently recruiting an Accountant to join our Property Administration Services team in Milan, Italy. 21 January 2021 Pradera pilots Coniq customer loyalty scheme Pradera has invested in IQ Connect, a location-based loyalty solution developed by Coniq. 19 January 2021 Pradera Spain appointed asset manager of retail park in Malaga New York-based Marathon Asset Management appoints Pradera as Asset Manager for Spanish retail park. 18 January 2021 Domoteka kicks off 2021 with the opening of a new showroom Rolf Benz opens first ever showroom in Poland 12 January 2021 Pradera agrees new lettings for VILLAGE Shopping & More, Athens A new department store and F&B operator for Athens' popular retail and leisure destination

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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 signs 523 new leases and lease renewals in 2020

Despite a challenging retail environment and extensive lockdowns resulting from Covid-19, Pradera signed 523 new lettings and lease renewals on 235,000 sqm GLA in the 12 months to 31 December 2020.

Read whole story

Pradera Italy is looking for an Accountant to join its Property Administration Services team

We are currently recruiting an Accountant to join our Property Administration Services team in Milan, Italy.

Read whole story

Pradera pilots Coniq customer loyalty scheme

Pradera has invested in IQ Connect, a location-based loyalty solution developed by Coniq.

Read whole story

Pradera Spain appointed asset manager of retail park in Malaga

New York-based Marathon Asset Management appoints Pradera as Asset Manager for Spanish retail park.

Read whole story

Domoteka kicks off 2021 with the opening of a new showroom

Rolf Benz opens first ever showroom in Poland

Read whole story

Pradera agrees new lettings for VILLAGE Shopping & More, Athens

A new department store and F&B operator for Athens' popular retail and leisure destination

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre