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Company Information
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."
For further information:
FTI Consulting Inc.: +44 (0)20 3727 1000
Richard Sunderland/Claire Turvey: atrium@fticonsulting.com
[atrium@fticonsulting.com]
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.
Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Richard.sunderland@fticonsulting.com
end of announcement euro adhoc
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(END) Dow Jones Newswires
July 10, 2019 02:25 ET (06:25 GMT)
