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St Helier Jersey / Channel Islands –
Atrium completes EUR341 million of transactions
Jersey, 10 July 2019. Further to its announcement of 13 May 2019, Atrium European Real Estate Limited (VSE/ Euronext: ATRS) („Atrium“ or the „Company“ and together with its subsidiaries, the „Atrium Group“), a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, confirms that it has completed EUR341 million of transactions in Poland comprising the disposal of two assets and an acquisition.
Atrium has now completed the EUR298 million sale of two Polish shopping centres, Atrium Koszalin and Atrium Felicity, to a fund managed by ECE Real Estate Partners. The sale price represents c.3% premium to the 31 March 2019 book value.
Atrium has also recently completed the acquisition of the King Cross Praga shopping centre in Warsaw for EUR43 million. This well-established asset offers future redevelopment opportunities and will be the Company’s fifth asset in its Warsaw portfolio.
Liad Barzilai, CEO of Atrium Group, commented:
„These transactions show further progress of our ongoing strategy to focus on quality assets in prime urban locations, and in particular capital cities, where we believe we can deliver stronger and more sustainable income in the long term. The disposal proceeds will contribute to the financial flexibility and liquidity of the Group, placing us in a position to take advantage of quality opportunities should they arise.“
About Atrium European Real Estate
Atrium is a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe. Atrium specializes in locally dominant food, fashion and entertainment shopping centres in the best urban locations. Atrium owns 32 properties with a total gross leasable area of over 870,000 sqm and with a total market value of approximately EUR2.7 billion. These properties are located in Poland, the Czech Republic, Slovakia and Russia, and with the exception of one, are all managed by Atrium’s internal team of retail real estate professionals.
The Company is established as a closed-end investment company incorporated and domiciled in Jersey and regulated by the Jersey Financial Services Commission as a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional advice should be sought in the case of any uncertainty as to the scope of the regulatory requirements that apply by reason of the above regulation and listings. All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.
end of announcement euro adhoc
issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
stockmarkets: Luxembourg Stock Exchange, Wien
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