BNP Paribas Real Estate has been selected to provide property management services in eight countries on behalf of Pradera.
BNP PRE will take over the property management of 25 properties, let to retailers including IKEA, along with other major national and international brands. Pradera will continue to act as asset manager.
The mandate increases BNP PRE’s managed portfolio of 409m sq ft sqm by more than 581,000 sq ft. As of 5 April, the property management business line of BNP PRE will be providing complex property management services for:
The agreement was concluded with the leading specialist retail property fund and asset manager Pradera, which in early March acquired 25 IKEA centres located in eight European countries.
Csongor Csukas, executive director international property management at BNP PRE, said: “It’s a great opportunity to work on medium-long term strategic and cross-border challenges with an expert in retail investment like Pradera. We are very motivated and well prepared to bring our best practices to this project in order to enhance the value of the portfolio.”