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Imprima – Recent Nordic transactions

The Project: IKEA Retail Parks Sale

  • Pradera, one of Europe's leading retail property fund and asset managers, is set to acquire 25 prime retail parks, comprising approx. 538,000 m² across Europe.
  • The €900 million investment is the first closing of the Pradera European Retail Parks SCSp fund. The portfolio of retail parks situated next to IKEA stores comprises around 500 units.
  • Totalling 538,000 square metres of retail space, the parks are in Germany, France, Poland, Sweden, Finland, Denmark, the Czech Republic and Switzerland.

Advisors

  • JLL's European Capital Markets Retail team advised Pradera.
  • Cushman & Wakefield represented Ikea Centres.
  • Mannheimer Swartling acted as the lead legal counsel in the transaction

The Project: AB Volvo Property Portfolio Divestment

  • The Volvo Group signed an agreement with the real estate company Platzer Fastigheter Holding AB regarding the sale of properties in the areas of Arendal, Torslanda and Säve in Gothenburg, Sweden.
  • The sales price amounted to SEK 2.8BN (EUR 279M) on a debt free basis and the divestment results in a capital gain of SEK 1.4 bn.
  • The divestment is part of a long-term plan to gather the majority of Volvo Group office workers in Gothenburg in an area that will be called Campus Lundby.

Advisors

  • JLL's advised the Volvo Group.
  • SEB acted as the financial advisor and Vinge as legal counsel to Platzer.