Atrium European plans to exit Hungary, sells portfolio

Atrium European Real Estate has sold 18 assets in Hungary and one in the Czech Republic for a combined price of €70m.

Liad Barzilai, the group chief executive officer, said: “These latest disposals mark our exit from Hungary, with the exception of a few residual assets, and, together with the sale in the Czech Republic, demonstrate our continued progress in improving the quality of our portfolio. 

The operator and redeveloper of shopping centres and retail real estate in Central and Eastern Europe, said it intends to dispose of the remaining assets in Hungary in due course.

The assets have been sold in a number of separate transactions including, the completion of the sale of Atrium’s stake in a shopping centre in Brno, Czech Republic, completing the portfolio rotation in the Czech Republic.

“All of these transactions are in line with our strategy of focussing our portfolio on large, high quality dominant retail centres in major cities and urban locations in our core markets of Poland and the Czech Republic, where we see greater opportunities to create value,” Barzilai said.

 

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