Pradera €900 million acquisition of Ikea European retail park portfolio

9/3/2017

€ 900 million

$ 952.299 million

Announced

9/3/2017


Overview:

  • Commercial real estate investor Pradera has agreed to acquire 25 retail parks across Europe from Ikea Centres, a subsidiary of the Swedish flat-pack designer, for €900 million. 
  • The properties - which collectively represent half of Ikea's network of retail parks in Europe - are located near Ikea stores in the Czech Republic, Denmark, Finland, France, Germany, Poland, Sweden and Switzerland. 
  • The transaction will be the first acquisition made by Pradera's recently established fund, European Retail Parks. 
  • Goldman Sachs is providing acquisition financing to Pradera.
  • The sale of 17 of the retail parks in Germany, France and Poland is expected to close on April 4, 2017. 
  • The sale of the additional eight retail parks in the Czech Republic, Denmark, Finland, Sweden and Switzerland is expected to complete on August 31, 2017. 

Ben Naylor - Regional editor

Jurisdictions:

Denmark
Finland
France
Germany
Luxembourg
Netherlands
Sweden
Switzerland
Czech Republic
Poland

Deal type:

Real estate acquisition

Practice areas:

Private equity
Real estate acquisitions

Industry sectors:

Consumer goods and services
Real estate


Firms:

Party: Pradera (Acquirer)

Lawyer: Jakob Midtgaard


Party: Ikea Centres (Seller)

Lawyer: Matias Wallgren


Party: Pradera (Acquirer)


CMS

Party: Pradera (Acquirer)


Party: Ikea Centres (Seller)


Party: Pradera (Acquirer)


Party: Pradera (Acquirer)


Party: Ikea Centres (Seller)


Party: Ikea Centres (Seller)

Lawyer: Daniel Hasler


Party: Ikea Centres (Seller)


Party: Pradera (Acquirer)


Party: Ikea Centres (Seller)

Lawyer: Tomas Johansson


Party: Ikea Centres (Seller)


Party: Ikea Centres (Seller)


Party: Pradera (Acquirer)


Party: Pradera (Acquirer)


Party: Pradera (Acquirer)


Party: Ikea Centres (Seller)