Atrium European Real Estate announces that, further to its statement of 21 June 2013, it has completed the acquisition of the 32,900 sqm Galeria Dominikańska shopping centre in Wroclaw, Poland, for a consideration of €151.7 million.
Atrium acquired Galeria Dominikańska from a joint venture comprising the Otto Family andDeutsche EuroShop AG and ECE will continue to manage the shopping centre, working closely alongside Atrium’s in-house team of retail experts.As a result of the acquisition, Atrium’s portfolioof shopping centres in Poland now accounts for 50.4% of the Group’s total income producing portfolio by market value, up from 47.0% previously. In addition, Atrium’s exposure to markets in the reion with an investment grade rating of A- and above now stands at 75.1%, up from 73.4% as at 30 June 2013.
- Galeria Dominikańska is a very good example of the type of assets we want to purch ase and the completion of this acquisition strengthens our portfolio through the addition of a prime, fully let shopping centre which is well located within a tier one city in our region - said Rachel Lavine, CEO of Atrium.
Atrium acquired Galeria Dominikańska from a joint venture comprising the Otto Family andDeutsche EuroShop AG and ECE will continue to manage the shopping centre, working closely alongside Atrium’s in-house team of retail experts.As a result of the acquisition, Atrium’s portfolioof shopping centres in Poland now accounts for 50.4% of the Group’s total income producing portfolio by market value, up from 47.0% previously. In addition, Atrium’s exposure to markets in the reion with an investment grade rating of A- and above now stands at 75.1%, up from 73.4% as at 30 June 2013.
- Galeria Dominikańska is a very good example of the type of assets we want to purch ase and the completion of this acquisition strengthens our portfolio through the addition of a prime, fully let shopping centre which is well located within a tier one city in our region - said Rachel Lavine, CEO of Atrium.
