Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
/By Cellia Shani/
Atrium European Real Estate (VSE/Euronext: ATRS), owner, operator and developer of retail real estate and shopping centers in Central and Eastern Europe, announces the €151.7 million acquisition of the Galeria Dominikańska shopping center 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 centers 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 center, working closely alongside Atrium’s in-house team of retail experts.
Galeria Dominikańska is a fully occupied, Grade A shopping center 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 center 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 center includes over 900 parking spaces.
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 €2.20 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