Orion Capital Managers has selected Pradera to asset manage its 37,000 m2 Meraville Retail Park in Bologna.
Orion Capital Managers has selected Pradera to asset manage its 37,000 m2 Meraville Retail Park in Bologna.
The contract, which also includes property administrative services, follows Pradera's sale of the site to Orion European Real Estate Fund IV in November 2013. Orion announced in December last year that its 4th European real estate fund had successfully raised €1.3 bn.
Pradera owned and managed the park for 10 years until the sale last year and boosted sales by 25% across the park over this period. Situated six kilometres from Bologna city centre, Meraville Retail Park is located next to Italy’s second-largest wholesale food market with offerings including Coop, Decathlon, Leroy Merlin and Mediaworld.
Roberto Limetti, managing director and head of Pradera Italy, said: 'We are pleased to have been appointed as asset manager at Meraville Retail Park as it was a consistently successful asset in our European Retail Fund during the last decade. We understand the asset, its retailers and its consumers, and look forward to working with Orion to support the centre’s continued success.'
Pradera is a specialist retail sector fund and asset manager established in 1999 by Paul Whight and now headed by James Bury, Neil Varnham and Roberto Limetti. It operates through a variety of in-house discretionary funds, joint ventures and separate mandates. Pradera currently manages 55 retail parks and shopping centres throughout the UK and Europe totalling in excess of €2.3 bn of assets under management.