Pradera, one of Europe’s leadingspecialist retail fund and asset managers today announced a joint venture (JV) with Macquarie Retail Real Estate Management Limited, a subsidiary of Macquarie Infrastructure and Real Assets (Hong Kong) Limited (MIRA), which will provide asset management services in Asia. Pradera Retail Asia will be headquartered in Hong Kong and brings Pradera’s platform to Asia.
Pradera Retail Asia will initially provide management services to three retail properties located in China (Shanghai, Qingdao and Xi’an) which are owned by MIRA-managed companies. MIRA will continue to be the portfolio manager and provide strategic asset management to all MIRA-managed assets.
David Fletcher, Managing Director of Pradera, said: “This joint venture reflects our long-held ambition to take our tried and trusted approach in the retail property market into new geographies. We’re excited to share our know-how with MIRA and look forward to driving growth for our clients.”
Pradera Chairman Colin Campbell added: “We’ve been looking to Asia for some time and readying ourselves for the right opportunity. The joint venture with MIRA makes perfect sense. We share a common focus in retail investment and property and asset management but also have complementary strengths and expertise.”
