Atrium European Real Estate has acquired the AFI Palác shopping center in the city of Pardubice from AFI Europe for €83m. The acquisition is in line with Atrium’s strategy to buy prime income-producing shopping centers in Poland, the Czech Republic and Slovakia. As a result of the AFI Palác deal, more than 19 percent of Atrium’s total income-producing assets are in the Czech Republic.
AFI Palác Pardubice was developed in 2008 and offers 20,900 sqm of retail space across four floors, including a Cinema City multiplex and a 1,725 sqm conference centre. The shopping center is currently 96.4 percent leased to tenants like H&M, Deichmann, Intersport, New Yorker and Lindex.
The deal follows Atrium’s recent acquisition of the Focus Mall in the Polish city of Bydgoszcz for €122m as well as the successful issuance of a €350m unsecured eight-year Eurobond.
