UK real estate fund manager Pradera has snapped up La Fabbrica shopping centre in Santo Stefano di Magra in Italy's Liguria region for about EUR 50 mln. The mall, which opened in October last year, was bought from the Italian supermarket chain Conad del Tirreno. The property consists of 37 retail units with a total 11,800 m[sup]2[/sup] of retail space, and is earmarked for the Pradera European Retail Fund 2 (PREF 2).
UK real estate fund manager Pradera has snapped up La Fabbrica shopping centre in Santo Stefano di Magra in Italy's Liguria region for about EUR 50 mln. The mall, which opened in October last year, was bought from the Italian supermarket chain Conad del Tirreno. The property consists of 37 retail units with a total 11,800 m2 of retail space, and is earmarked for the Pradera European Retail Fund 2 (PREF 2).
La Fabbrica was created last year as part of a larger redevelopment of a fomer industrial site, Sirma, which is being redeveloped to provide a total 55,000 m2 of commercial, and residential space, including offices and a hotel.
Jones Lang LaSalle acted for Pradera.
The acquisition represents PERF 2's fifth deal in Italy after the acquisition of the Prato Sardo Shopping Centre in Nuoro, the San Rocco al Porto Retail Park in Piacenza, the Domus Shopping Centre in Rome and the Tuscia mall in Viterbo.
The Pradera European Retail Fund 2 had its first closing in December 2006. Targeting out-of-town retail property (shopping centres and retail parks), it focuses on the Southern European markets of Spain, Italy and Greece.
