Walder Wyss advises Pradera on the acquisition of a Swiss real estate asset
Walder Wyss advises Pradera on the acquisition of a Swiss real estate asset within a pan-European real estate portfolio of IKEA Centres together with Gleiss Lutz acting as lead counsel.
The portfolio of retail parks situated next to IKEA stores comprises around 500 units with a gross lettable area of around 538,000 sqm. Completion on 17 assets located in Germany, France and Poland is expected on 4 April 2017, with a further eight retail parks in Switzerland, Sweden, Finland, Denmark, the Czech Republic due to complete on 31 August.
Pradera is a market leading specialist fund and asset manager of shopping centres and retail parks in Europe and Asia. Founded in 1999, Pradera’s EUR 2.7 billion portfolio prior to this acquisition comprised 44 shopping centres and retail parks in the UK, Spain, Italy, Germany, Poland, the Czech Republic and Greece, Turkey and China with more than 2,500 stores.
The Walder Wyss team headed by Francis Nordmann (Partner, Real Estate/Finance) comprised the following lawyers: Tina Hurni (Associate, Real Estate), André Kuhn (Associate, Real Estate), Roger Ammann (Associate, Finance) and Jan Ole Luuk (Counsel, VAT).