Pradera appoints Sabiha Güleç and Sevgi Ocak as Joint Heads of its Turkey office

London, UK, 2017-Dec-01 — /EPR Retail News/ — Pradera, the specialist international retail real estate fund and asset manager, has appointed Sabiha Güleç and Sevgi Ocak as Joint Heads of its Turkey office.

Their primary responsibility will be to oversee the management of Istanbul Cevahir, one of Europe’s largest shopping centres that Pradera manages on behalf of St Martins Management Company. Sabiha and Sevgi have been an integral part of the team that has successfully reconfigured and repositioned the asset in recent years.

Sevgi joined Pradera in 2010, to oversee finance, accounting and reporting. She has over 18 years of industry experience and has worked in the finance departments of multinational businesses from a variety of different sectors. Sabiha joined Pradera in 2007, and was appointed Head of Leasing & Asset Management in 2015.

Sevgi and Sabiha take over from Alison Rehill-Erguven who has been appointed Chief Executive of Pradera Retail Asia, China. However, Alison will continue to oversee Pradera’s Turkish business as Chairman of Pradera Turkey.

David Fletcher, Chief Executive of Pradera, commented: “We are delighted to appoint Sabiha and Sevgi as joint Head of Turkey. Their skills and experience in the country mean they are excellently placed to run the team and provide best in class fund and asset management services for our clients.”

This increasingly global perspective sees Pradera sharing best practice to further improve performance and returns in a €3.3 billion portfolio that now includes 58 shopping centres and retail parks worldwide.

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James Carnegie, Good Relations Property
+44 20 7861 2573
jcarnegie@goodrelationsproperty.co.uk

Source: PRADERA

Pradera European Retail Parks Fund to acquire 25 retail parks in eight European countries

London, 2017-Apr-07 — /EPR Retail News/ — Pradera, one of Europe’s leading specialist retail property fund and asset managers, has today (05 April 2017) announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900 million transaction agreed with IKEA Centres, the Fund has signed a contract to acquire 25 prime retail parks next to IKEA stores in eight European countries.

Pradera was able to complete the deal with equity investment from LJ Partnership, the private wealth partnership, which took a significant minority stake in the business in May 2016.

The portfolio of retail parks situated next to IKEA stores comprises around 500 units with a GLA 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 Sweden, Finland, Denmark, the Czech Republic and Switzerland due to complete on 31 August.

David Fletcher, Chief Executive of Pradera, explained that the properties being acquired from IKEA provide an excellent portfolio for the Fund, which has been established to invest in income-producing retail parks across Europe, stating: “As the world’s leading home furnishings retailer, IKEA is a strong anchor in these locations. These parks have been developed and managed by IKEA Centres and are let to major tenants including Media Markt, OBI, Decathlon and Leroy Merlin. They greatly benefit from the drawing power that IKEA stores brings to these locations.”

The new Fund comes at the start of a year in which Pradera looks to expand further, having launched a successful joint venture with Macquarie in Asia last year. Pradera Retail Asia already has over EUR 900 million of assets under management in China.

Colin Campbell, Chairman of Pradera, commented: “The acquisition of this portfolio and the creation of Pradera European Retail Parks SCSp demonstrates the significant synergies between Pradera and LJ Partnership. Pradera was able to source and secure the portfolio, enabling clients and associates of LJ Partnership to participate in an investment they otherwise wouldn’t have had access to.”

Andrew Williams, CEO of LJ Partnership, said: “We are delighted to have backed the acquisition process through our partnership with Pradera. LJ Partnership’s strategy of partnering with best in class managers continues to deliver excellent investment opportunities; execution and management capability and returns profiles.”

PRESS ENQUIRIES:

James Carnegie
Good Relations Property
+44 20 7861 2573
jcarnegie@goodrelationsproperty.co.uk

Source: radera European Retail Parks