Atrium European Real Estate completed the sale of a portfolio of 72 retail assets in the Czech Republic to a private investor. The investor, managed by Peakside Capital, paid €70m for the portfolio. The agreement includes a €61m cash payment, with the balance satisfied through a secured vendor loan to the purchaser. The portfolio includes 72 small-format retail properties across the Czech Republic, with Ahold as the anchor tenant. The total leasable area is 177,000 sqm.
Shifting its focus entirely to large-scale, well-established shopping centers on its core market, Atrium recently closed two acquisitions: AFI Palác Pardubice in the Czech Republic and Focus Mall in Bydgoszcz, Poland. The acquisition of Arkády shopping center in Prague-Pankrác is reportedly about to close, with Atrium taking over a 75-percent share from Unibail Rodamco. ECE will retain a 25-percent share and continue to manage the center. Atrium’s Czech portfolio currently includes 22 properties.
