All Stories
Follow
Subscribe to Atrium European Real Estate Limited

Atrium European Real Estate Limited

EANS-Adhoc: Atrium European Real Estate Limited
ATRIUM ACQUIRES AFI PALÁC PARDUBICE IN CZECH REPUBLIC FOR EUR83 MILLION

--------------------------------------------------------------------------------
  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
--------------------------------------------------------------------------------
other
06.11.2014


ATRIUM ACQUIRES AFI PALÁC PARDUBICE IN CZECH REPUBLIC FOR EUR83 MILLION

Ad hoc announcement - Jersey, 6 November 2014: Atrium European Real Estate
Limited ("Atrium" or the "Company") (VSE/Euronext: ATRS), a leading owner,
operator and developer of shopping centres and retail real estate in Central and
Eastern Europe, announces that it has acquired the AFI Palác shopping centre in
Pardubice, Czech Republic, from AFI Europe N.V. for a consideration of EUR83
million. The acquisition is financed using existing cash resources.

The acquisition is in line with Atrium's strategy to acquire prime income
producing shopping centres in order to become the dominant player in its core
markets of the Poland, Czech Republic and Slovakia, and follows the recent
agreement for the acquisition of the Focus Mall in Bydgoszcz, Poland for EUR122
million as well as the successful issuance of a EUR350 million unsecured eight
year Eurobond. 

As a result of the acquisition, over 19% of Atrium's total income producing
portfolio by market value is in the Czech Republic, with 77% located in
countries which have A- or above sovereign rating.

AFI Palác Pardubice was originally developed in 2008 and comprises 20,900 sqm of
retail GLA across four storeys, with the ground and first floors dedicated to
retail and the second floor occupied by a 3,255 sqm Cinema City along with a
1,725 sqm conference centre. There is also a c.542 space underground car park.

The freehold property is currently 96.4% let to a number of anchor tenants
including H&M, Deichmann, Intersport, New Yorker and Lindex. Other high-profile
brands in the centre include Bata, Promod and Sephora. There is also a large
Tesco owned and occupied superstore adjacent to the centre. 

Pardubice is a regional capital city and 10th largest city in the Czech
Republic, with a population of c.90,000. AFI Palác is the region's only
contemporary shopping centre and has a catchment of over 200,000 inhabitants
within a 30 minute drive.  The centre is located at the intersection of four
major roads and within a short walking distance of both the main bus and railway
station and the historic old town. 

Commenting on the acquisition, Rachel Lavine, Group CEO, said: "This acquisition
follows quickly after we signed an agreement to acquire the Focus Mall in
Bydgoszcz, Poland and demonstrates our ability to deploy capital into quality
assets, dominant in their catchment areas within the strong cities of our core
markets. The AFI Palác complements and further strengthens our existing Czech
portfolio, as well as enlarges our exposure to one of the strongest economies in
the region." 

For further information:
FTI Consulting Inc.: 
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Nick Taylor 
atrium@fticonsulting.com

About Atrium European Real Estate 
Atrium is a leading real estate company focused on shopping centre investment,
management and development in Central and Eastern Europe. As at 30 June 2014 the
Group owned 153 shopping centres and retail properties, with a market value of
EUR2.5 billion, diversified across seven countries with a total gross lettable
area of 1.3 million sqm. In 2013, Atrium produced a gross rental income of
EUR203.5 million.  

The Company is based in Jersey and dual listed on the Vienna and Euronext
Amsterdam Stock Exchanges under the ticker ATRS. 

This press release appears as a matter of record only and does not constitute an
offer to sell or a solicitation of an offer to purchase any security. 
Atrium is established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services Authority as
a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange
and the NYSE 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
Nick Taylor
 
Richard.sunderland@fticonsulting.com

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
mail:         richard.sunderland@fticonsulting.com
WWW:         http://www.aere.com
sector:      Real Estate
ISIN:        JE00B3DCF752
indexes:     Standard Market Continuous
stockmarkets: official market: Wien 
language:   English

Original content of: Atrium European Real Estate Limited, transmitted by news aktuell

More stories: Atrium European Real Estate Limited
More stories: Atrium European Real Estate Limited