Swedish furniture giant Ikea has sold a portfolio of 25 European retail parks surrounding its stores to Pradera for €900m (£702m).
The sale forms part of the retailer’s strategy to keep only properties that allow it to collaborate with nearby tenants.
The parks have been sold to Pradera fund European Retail Parks SCSp, a fund backed by private wealth group LJ Partnership. They are located in Germany, France, Poland, Sweden, Finland, Denmark, the Czech Republic and Switzerland.
Ikea still owns 25 retail parks across Europe as well as its shopping centre division, Ikea centres, which operates in Russia and China.
The deal is expected to complete in two stages, in April and in August.
Cushman & Wakefield advised Ikea; JLL represented Pradera.
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