Atrium European Real Estate Limited
EANS-Adhoc: Atrium European Real Estate Limited ATRIUM ACQUIRES THE FOCUS MALL IN BYDGOSZCZ, POLAND FOR EUR122 MILLION
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06.10.2014
ATRIUM ACQUIRES THE FOCUS MALL IN BYDGOSZCZ, POLAND FOR EUR122 MILLION
Ad hoc announcement - Jersey, 6 October 2014: Atrium European Real Estate
Limited ("Atrium" or the "Company") (VSE/Euronext: ATRS), a leading owner,
operator and developer of retail real estate and shopping centres in Central and
Eastern Europe, announces that it has agreed to acquire Focus Mall in Bydgoszcz,
Poland from Aviva Investors for EUR122 million. The acquisition will be financed
using existing cash resources and is subject to approval by the Polish
antimonopoly office, which is expected to be finalised in Q4 2014.
The acquisition is in line with the Atrium's strategy to become the dominant
player in its core markets of Poland, Czech Republic and Slovakia through the
purchase of strong income producing shopping centres which complement the
Company's existing portfolio. As a result of the acquisition, over 55% of
Atrium's total income producing portfolio by market value is in Poland, with 77%
located in countries which have A- or above sovereign rating.
Focus Mall was originally developed in 2008 and is the dominant shopping centre
in Bydgoszcz. It comprises 41,000 sqm of retail GLA across two storeys, which is
currently 96.1% let to a number of anchor tenants including a c.2,800 sqm Alma
supermarket, a Saturn electronics store and a Cinema City, as well as a large
number of other high profile international and domestic retail fashion brands
including C&A, H&M, Reserved, Cropp, House, Bershka, Pull & Bear and New Yorker.
A further two floors over the shopping centre are predominantly given over to
car parking for approximately 850 cars, as well as 830 sqm of storage and a 156
sqm office suite for the centre management.
Bydgoszcz is Poland's eighth largest city with approximately 360,000 inhabitants
and Focus Mall is well-located in a heavily populated city centre area, adjacent
to both the city's main football stadium and the bus station, at the
intersection with the city's two main roads.
Commenting on the acquisition, Rachel Lavine, CEO of Atrium, said: "The
acquisition of Focus Mall allows us to add another dominant and modern shopping
centre to our income producing portfolio and is in line with our strategy of
acquiring established assets in the strongest economies of the CEE region. It is
highly complementary to and further strengthens our existing Polish portfolio
and gives us another great retail platform in one of our targeted top-tier
cities in Poland."
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
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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