Atrium disposes of 72 retail assets

The sale of 72 retail assets has been completed by Atrium European Real Estate.

The
portfolio has been purchased by a private client at a sum of CZK
1925m. This included a cash payment of CZK1670m, and the balance
will be secured by a vendor loan.

The
assets are located within the Czech Republic and offer an overall
lettable area of around 177000m². The portfolio contains primarily
smaller retail properties measuring on average about 2500m².

The
disposal of these assets is in line with the rebalancing of the
company’s portfolio and a renewed focus on its core markets.

After
the purchase of AFI Palac in Pardubice during November 2014, the
group’s portfolio within the Czech Republic now holds 22
properties. This accounts for around 15.9% of its overall portfolio
value, compared with 16.4% or 93 properties of its portfolio at the
end of September 2014.

The
portfolio has been purchased by a private client at a sum of CZK
1925m. This included a cash payment of CZK1670m, and the balance
will be secured by a vendor loan.

The
assets are located within the Czech Republic and offer an overall
lettable area of around 177000m². The portfolio contains primarily
smaller retail properties measuring on average about 2500m².

The
disposal of these assets is in line with the rebalancing of the
company’s portfolio and a renewed focus on its core markets.

After
the purchase of AFI Palac in Pardubice during November 2014, the
group’s portfolio within the Czech Republic now holds 22
properties. This accounts for around 15.9% of its overall portfolio
value, compared with 16.4% or 93 properties of its portfolio at the
end of September 2014.

The
CEO of Atrium Group, Josip Kardun, said that the closing of this sale
and the acquisitions during November 2014 is a major milestone in
their re-alignment strategy.The
CEO of Atrium Group, Josip Kardun, said that the closing of this sale
and the acquisitions during November 2014 is a major milestone in
their re-alignment strategy.