Investment fund Pradera European Retail has acquired the Marina shopping centre from the property company Ballester for EUR 70 mln, Pradera's advisor Knigth Frank said on Monday. The mall is located 40 km from Alicante in southern Spain, next to the tourist town of Benidorm. Opened in 2000, the retail centre provides a gross lettable area of 36,783 m[sup]2[/sup].
Investment fund Pradera European Retail has acquired the Marina shopping centre from the property company Ballester for EUR 70 mln, Pradera's advisor Knigth Frank said on Monday. The mall is located 40 km from Alicante in southern Spain, next to the tourist town of Benidorm. Opened in 2000, the retail centre provides a gross lettable area of 36,783 m2.
Pradera's first fund European Retail Fund targets out-of-town retail property with a focus on the southern European markets of Italy, Spain, France and Greece. The Fund now has a portfolio of about 17 properties totalling more than 300,000 m2 and accommodating more than 650 tenants.
