A shopping centre fund managed by ECE Real Estate Partners has acquired two Polish assets worth €298m from Atrium European Real Estate.
Atrium has agreed to sell the Atrium Koszalin and Atrium Felicity shopping centres to ECE European Prime Shopping Centre Fund II.
Atrium said the disposal is part of its ongoing strategy to reposition its portfolio towards large, “high quality dominant retail centres in prime urban locations and capital cities”.
In August last year, Atrium bought a €301.5m Polish retail asset from CBRE Global Investors managed fund PFCEE. Earlier last year, it sold 18 assets in Hungary and one in Romania
From 2015 to date, the Central Europe shopping centres and retail real estate investor said it has acquired €0.5bn of assets and disposed of €0.7bn of assets.
During the period, Atrium’s portfolio has reduced from 153 properties in seven countries to 32 assets in four countries, it said.
Liad Barzilai, CEO of Atrium Group, said: “These disposals continue the implementation of our ongoing strategy to consolidate our assets and to focus on higher quality assets in prime urban locations, that can deliver a stronger and more sustainable income in the long term.
“Warsaw and Prague are central to this strategy due to growing populations and very low unemployment, which are structural drivers that will support the growth performance of our assets.”
