Atrium European Real Estate Limited
EANS-Adhoc: Atrium European Real Estate Limited
ATRIUM COMPLETES ACQUISITION
OF ARKÁDY PANKRÁC SHOPPING CENTRE IN PRAGUE FOR EUR162 MILLION
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30.06.2015
ATRIUM COMPLETES ACQUISITION OF ARKÁDY PANKRÁC SHOPPING CENTRE IN PRAGUE FOR
EUR162 MILLION
Ad hoc announcement - Jersey, 30 June 2015: Further to its announcement on 22
January 2015, Atrium European Real Estate Limited ("Atrium") (VSE/Euronext:
ATRS), a leading owner, operator and developer of shopping centres and retail
real estate in Central and Eastern Europe, announces that the Atrium Group has
completed the acquisition of a 75% interest in the Arkády Pankrác shopping
centre (the "Centre") in Prague, the Czech Republic for a consideration of
c.EUR162 million. The 75% stake was acquired from Unibail-Rodamco S.E. and it
will be held in a joint venture with the Otto family, which continues to own the
remaining 25%. The transaction has been financed using existing cash resources.
Arkády Pankrác, which is well located in Prague 4, a high density residential
area that is also evolving as a business location, opened in 2008 and is a prime
modern shopping centre comprising 38,200 sqm of retail GLA, along with parking
for c.1,100 cars. With footfall increasing every year since opening and reaching
over 11 million in 2013, the Centre is well established as one of the principal
shopping centres in Prague.
The Centre is 99.5% occupied and has a weighted average lease term of over six
years. It is occupied by c.120 retail tenants comprising a strong mix of mid to
upper segment retail brands including Albert hypermarket, Inditex and LPP Group
fashion brands, a Datart electronics store, as well as H&M, New Yorker, Humanic
and Peek & Cloppenburg.
ECE will continue to manage the Centre, working closely alongside Atrium Group's
in-house team of retail experts.
Commenting on the acquisition, Josip Kardun, CEO of Atrium Group, said: "This
acquisition marks another step towards our goal of becoming the dominant owner,
operator and developer of shopping centres and retail real estate in our core
markets within Central and Eastern Europe. With this acquisition and Palac
Pardubice we acquired in November last year, we have now added EUR245 million of
high quality retail property to our Czech income producing portfolio and,
alongside the disposal of 72 smaller retail assets, have efficiently turned
around our income profile in this target geography."
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Ellie Sweeney
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 31 March 2015,
the Atrium Group owned 81 shopping centres and retail properties, with a market
value of EUR2.5 billion, diversified across seven countries, with a total gross
lettable area of 1.4 million sqm. In the year ended 31 December 2014, the Atrium
Group had gross rental income of EUR214.5 million.
Atrium is based in Jersey and is dual-listed on the Vienna and Euronext
Amsterdam Stock Exchanges under the ticker ATRS.
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
Claire Turvey
Richard.sunderland@fticonsulting.com
end of announcement euro adhoc
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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, stock market: Luxembourg Stock Exchange
language: English
Original content of: Atrium European Real Estate Limited, transmitted by news aktuell