Retail property investor and asset manager Pradera announced on Thursday that its Italian arm has been appointed as property manager, exclusive leasing agent and retail strategic advisor for Le Isole Shopping Centre in Gravellona Toce, Buonvento Shopping Centre in Benevento and Brinpark Retail Park in Brindisi, Italy.
The appointment was made by Savills Investment Management's Italian asset management arm, acting on behalf of owners Fondo Gator and Fondo Panther,
Le Isole Shopping Centre, a 20,914 m2 shopping centre first opened in 2006, is anchored by an Ipercoop hypermarket and hosts 56 units, currently occupied by top-tier retailers namely OVS, Tezenis, McDonald’s and Bata. Buonvento Shopping Centre spans 17,940 m2 with 46 stores; it opened in 2005 and is anchored by a Conad Superstore. MediaWorld, Piazza Italia, Bata Super Store and Tezenis are amongst the main occupiers.
Brinpark is a 17,220 m2 retail park with an established retail offer including MediaWorld, Cisalfa Intersport, Happy Casa, McDon ald’s and Globo.
Roberto Limetti, managing director of Pradera and Chairman of PMI said: 'We are thrilled that Savills Investment Management have chosen PMI as their retail asset manager and advisor, and we look forward to working with their talented and experienced fund management team. We are confident that we will bring added value to the three assets, leveraging on our 20+ year expertise and successful track record in the Italian retail real estate sector. This appointment confirms the Pradera Group’s commitment to the Italian market and also strengthens our relationship with one of the most respected fund managers, Savills IM.'
With the addition of these three assets, Pradera brings its Italian portfolio under management to 20 centres, some managed on behalf of the Luxembourg fund Pradera Holdco Sarl, others on behalf of third party clients, and one asset, Lingotto (Turin, Italy), which was acquired by Pradera Limited in joint venture with an institutional investor.
