Atrium European Real Estate Limited
EANS-Adhoc: Atrium European Real Estate Limited
ATRIUM ACQUIRES GALERIA
DOMINIKANSKA IN WROCLAW, POLAND, FOR EUR 151.7 MILLION
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other/Acquisition
21.06.2013
ATRIUM ACQUIRES GALERIA DOMINIKANSKA IN WROCLAW, POLAND, FOR EUR 151.7 MILLION
Ad hoc announcement - Jersey, 21 June 2013. Atrium European Real Estate
(VSE/Euronext: ATRS ("Atrium" or the "Group"), a leading owner, operator and
developer of retail real estate and shopping centres in Central and Eastern
Europe, announces the EUR 151.7million acquisition of the Galeria Dominikanska
shopping centre in Wroclaw, Poland from a JV comprising the Otto Family and
Deutsche EuroShop AG. The acquisition is in line with the Group's aim of
acquiring prime, income producing shopping centres in the major cities of
Poland, Czech Republic and Slovakia, which have the strongest economies in the
CEE region.
The acquisition will be financed using the Group's existing cash resources. The
transaction is subject to approval by the Polish antimonopoly office and the
fulfilment of certain conditions precedent, which are expected to be finalized
in Q3 2013. ECE will continue to manage the shopping centre, working closely
alongside Atrium's in-house team of retail experts.
Galeria Dominikanska is a fully occupied, Grade A shopping centre which
comprises approximately 32,900 sqm of gross lettable area spread over three
levels and across 102 units, as well as a gym let to AM Fitness Club and
approximately 1,250 sqm of office space. The shopping centre is anchored by a
Carrefour supermarket and a Media Markt and houses a wide range of international
and domestic retail brands including Van Graaf, Zara, Pull & Bear, Bershka,
Benetton, Douglas, Sephora, Mango, Max Mara, New Yorker and Reserved, together
with a strong food and hospitality offering. Average duration of all lease
contracts is over 6 years. In addition, the centre includes over 900 parking
spaces.
Opened in 2001, Galeria Dominikanska is the leading shopping centre in Wroclaw,
Poland's fourth largest city and capital of the Silesia region, which has a
population of some 630,000 inhabitants. It is situated in a prime location at
the heart of the city, right next to the historic Old Town, and on the inner
city ringroad. It is serviced by nine tram and five bus routes with stops
outside the center and has a wider catchment area of some 1 million potential
consumers, of which c580,000 live within 15 minutes travel time.
Commenting on the acquisition, Rachel Lavine, CEO of Atrium said: "Galeria
Dominikanska is an important acquisition for us, being a large, well-established
and dominant shopping centre which is in a prime location in one of the major
cities of Poland, our most important market. ECE is one of Europe's preeminent
managers and developers of shopping centres and we look forward to working with
them in managing this centre.
"The transaction allows us to start putting the proceeds of our recent Eurobond
placement to effective use while increasing Atrium's weighting to Poland, the
CEE's largest economy, to over 50%, and taking its exposure to A- rated or above
countries to above 75%."
For further information:
FTI Consulting Inc:
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
richard.sunderland@fticonsulting.com
About Atrium European Real Estate Limited
Atrium is a leading real estate company focused on shopping centre investment,
management and development in Central and Eastern Europe. As at 31 March 2013
the Group owned 156 shopping centres, with a market value of EUR2.20 billion,
diversified across seven countries with a total gross lettable area of 1.245
million sqm. In 2012, Atrium produced a gross rental income of EUR193.5million.
The Company is based in Jersey and dual listed on the Vienna and Euronext
Amsterdam Stock Exchanges under the ticker ATRS.
This ad hoc announcement 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 domiciled in Jersey.
Atrium is registered with the Dutch Authority for the Financial Markets as a
collective investment scheme which may offer participations in The Netherlands
pursuant to article 2:66 of the Financial Supervision Act (Wet op het financieel
toezicht). 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:
FTI Consulting Inc
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
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
language: English
Original-Content von: Atrium European Real Estate Limited, übermittelt durch news aktuell