Atrium European Real Estate, posted a 12.3-percent decrease in revenue in the first half of the year. Problems surrounding the Militari Shopping Center in Bucharest are at the heart of much of its currently difficulties for Atrium, which posted just €3m in net income. The weak performance was primarily due to Praktiker, one of Atrium’s key tenants, going bankrupt, according to company officials.
Atrium European Real Estate invested €67m in 2009 to expand the shopping center. The company operates in several countries across the CEE region, including Poland, the Czech Republic, Russia, Hungary, Slovenia and Romania. Its portfolio is valued at €2.5bn.
