Atrium Strengthens Polish Portfolio

Published: May 9, 2011; 12:59 · (Vindobona)

Atrium European Real Estate announces that it has completed the acquisition of the Promenada Shopping Centre (“Promenada”) in Warsaw, Poland for €171 m from Carpathian PLC.

Atrium Strengthens Polish Portfolio / Picture: © Vindobona.org

Promenada is Warsaw’s number four shopping centre and the € 171 m transaction value comprises a purchase price of € 169.5 m, as well as a further € 1.5 m payable upon receiving a VAT refund, which is expected within three months.

In addition to achieving an immediate cost saving through internalising the centre’s management, Atrium has already identified a number of…

This article includes a total of 790 words.

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