Pradera Europe's Open-Ended Retail Fund (POERF) is looking for assets in Italy and France following the acquisition of three shopping centres in Poland earlier this month. The Polish malls are being bought from UK-based investor Carpathian for a total of EUR 40 mln.
Pradera Europe's Open-Ended Retail Fund (POERF) is looking for assets in Italy and France following the acquisition of three shopping centres in Poland earlier this month. The Polish malls are being bought from UK-based investor Carpathian for a total of EUR 40 mln.
POERF targets shopping centres and retail parks in a value range between EUR 30-70 mln across Europe. The fund, which had its first closing in December 2009, is structured as a German KAG. Aside from its Polish assets, the fund owns three retail parks in the UK.
'We need now to invest more in the Eurozone for this fund and our focus is probably on Italy and France,' Colin Campbell, chairman of Pradera Europe, told PropertyEU.
The fund's next transaction could, however, also be in another market if the right opportunity comes along, he added. Pradera Europe invests in authorised markets when the time is right rather than ‘slavishly following weighting criteria’.
Read more about Pradera Europe in the December edition of PropertyEU Magazine.
