Pradera, the specialist retail real estate fund and asset manager has announced the refinancing of their first fund, the Pradera European Retail Fund (‘PERF’), for a total facility of €163.4 mln with Aareal Bank.
The refinancing, completed in September 2015, comprises seven shopping centres in Spain and one in Italy.
Advising on the Fund for Pradera were the Debt advisory team of JLL and Spanish law firm Uria Menéndez, with Spanish Law firm Cuatrecasas representing Aareal.
PERF is a specialist retail property fund, launched in December 2000, initially held for an eight year life and continued for a further ten years in 2008. PERF currently consists of twelve retail properties across Italy, Spain and Greece with a Gross Asset Value (GAV) of approx. €400 mln.
Source: Pradera
