- September 1, 2011: Vol. 5, Number 8

To read this full article you need to be subscribed to Institutional Real Estate Europe

Pramerica Completes Turkish Retail Asset


Pramerica Real Estate Investors, the real estate investment management and advisory business of US-based Prudential Financial, has completed its development of TerraCity, a shopping centre in Antalya, Turkey. Pramerica developed the property in a joint venture with Istanbul-based EriaPartners, and a Shariah-compliant fund of the National Bank of Kuwait financed the $220 million (€154 million) project.

“TerraCity is the first completed project of this partnership and an expression of our commitment to Turkey,” says Eric Adler, CEO of Pramerica Real Estate Investors – Europe.

TerraCity totals 48,000 square metes of space and is the largest shopping centre in Antalya. It i

For reprint and licensing requests for this article, Click Here.

Forgot your username or password?