UK real estate fund manager Pradera has snapped up La Fabbrica shopping centre in Santo Stefano di Magra in Italy's Liguria region for about EUR 50 mln. The mall, which opened in October last year, was bought from the Italian supermarket chain Conad del Tirreno. The property consists of 37 retail units with a total 11,800 m[sup]2[/sup] of retail space, and is earmarked for the Pradera European Retail Fund 2 (PREF 2).
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
