Atrium, the listed CEE shopping centre investor, has announced the acquisition of Molo shopping centre in the Polish city of Szczecin for EUR 55 mln. The vendor was PFCE Soparfi A, a real estate fund managed by CBRE Global Investors.
Atrium, the listed CEE shopping centre investor, has announced the acquisition of Molo shopping centre in the Polish city of Szczecin for EUR 55 mln. The vendor was PFCE Soparfi A, a real estate fund managed by CBRE Global Investors.
Atrium said the acquisition was in line with the company's strategy of acquiring prime income-producing shopping centres in the major cities of Poland, the Czech Republic and Slovakia, the three strongest economies in the CEE region.
The transaction was financed through a mixture of equity and debt and follows Atrium’s EUR 191 mln purchase of the Palác Flóra shopping centre in the Czech capital Prague in September.
Jones Lang LaSalle advised Atrium on the transaction.
Molo is one of the leading shopping centres in Szczecin, the seventh-largest city in Poland. The city has a population of over 400,000 and is one of the country’s largest seaports.
The centre is 100% let and following a EUR 10 mln refurbishment and extension which was completed in November 2010, now offers 28,161 m2 of gross lettable area (GLA) of which 26,235 m2 is retail. Molo is anchored by Carrefour and Media Markt.
Prior to the acquisition of Molo, Atrium owned 19 operational shopping centres in Poland with a market value of EUR 926 mln at end-September 2011. Acrosss CEE as a whole, Atrium owns 154 shopping centres with a market value of EUR 2 bn.
