Tradeka Ltd Web Site - June 28, 2006
As a part of its new real estate strategy Tradeka Ltd sells approx. 270 retail properties to European Property Investors LP (“EPI”), a fund managed by Curzon/IXIS AEW Europe. Tradeka Ltd leases the assets back with mainly long-term triple-net leases.
The portfolio consists of hypermarkets, supermarkets and neighbourhood stores and it contains a major part of Tradeka Ltd’s property holdings. The transaction has no effect on Tradeka Lts’s sub-tenants’ or partners’ positions and the store activities will continue normally. Genesta Property Nordic will be acting as the Curzon/IXIS AEW Europe local operating partner.
According to Mr. Markku Uitto, the CEO of Tradeka Ltd, the transaction supports Tradeka Ltd’s strategy to concentrate on core business and to increase Tradeka Ltd’s capital use efficiency. The capital released from the property holdings will be used to develop Tradeka Ltd’s capital structure and to make Tradeka Ltd’s growth strategy possible.
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