Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited


@@start.t1@@--------------------------------------------------------------------------------   Corporate news transmitted by euro adhoc. The issuer/originator is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@

New Products


St Helier Jersey / Channel Islands (euro adhoc) - ATRIUM OPENS EXTENSION AT VOLGOGRAD PARK HOUSE, RUSSIA

-Stand alone retail box let to OBI-

Jersey, 29 October, 2009: Atrium European Real Estate Limited ("Atrium"  or  the "Company") (ATX/Euronext: ATRS),  one  of  the   leading  real  estate  companies focused on shopping centre investment, management  and  development  in  Central and Eastern Europe, announces the opening of an extension to its Volgograd  Park House shopping centre in Russia.

The extension comprises an 11,800 sqm, stand-alone retail box with 314 car park spaces, which is fully let to OBI, the leading German DIY Company, under a 15 year lease agreement with options for three additional periods of five years.

The opening of the OBI extension enhances the offering  of  what  is already  a strong and well performing asset which  suits  the   requirements  of  its  local south Russian catchment area.  Anchored by  Karusel,  SportMaster,  Tekhnosila, Bouling Planet, Academy and Starik Khotabbych, Volgograd  Park  House  also  has over 230 other tenants across its 55 000 sqm GLA.    It is located  on  a  69 000 sgm site in Volgograd and was originally opened in two phases in 2003-2004.

Rachel Lavine, CEO of Atrium, commented:  "The extension to our   Volgograd  Park House shopping mall is a good example of  Atrium´s   ability  to  deliver  income producing improvements to its standing assets and is  a  particularly  effective

@@start.t2@@way of enhancing value during  difficult  market  conditions.    We  continue  to explore ways  of  creating  value  and  improving  performance  at  all  of  our operating assets and believe strongly in the potential of our portfolio."

For further information:

Financial Dynamics:                  +44 (0)20 7831 3113

Richard Sunderland Laurence Jones

Atrium is established as a closed-end investment company  domiciled   in  Jersey. Atrium is registered with the Dutch Authority for the   Financial  Markets  as  a collective investment scheme which may offer participations in  The  Netherlands pursuant  to  article  2:66 of  the  Financial  Supervision  Act  (Wet  op  het financieel toezicht). All investments are subject to risk. Past  performance  is no guarantee of future returns. The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results.

About Atrium European Real Estate Limited Atrium is a leading real estate company focused on shopping  centre  investment, management and development in Central and Eastern Europe. As  at  30  June  2009 the Group owned 152 standing investments, with a market value of EUR1.49 billion, diversified across eight countries with a  total   gross  lettable  area  of  1.1 million sqm.  Geographically, the Group´s focus is principally concentrated  in Poland, the Czech Republic and Russia  with  a  presence  in Hungary,  Romania, Slovakia, Latvia  and  Turkey.  In  addition,  the  Company has  a   development portfolio including several development projects with a market  value  of  EUR712 million as at 30 June 2009.

Gross rental income from investment properties for the year  ended   31  December 2008 was EUR134 million and EUR75 million for the first half of  2009.   Net rental income for the year to 31 December 2008 amounted to EUR95 million and EUR59  million for the six months to 30 June 2009.  As at 30 June 2009, the Company had a  cash position of EUR855 million against borrowings of EUR1.08 billion.

Following a strategic investment of EUR500 million by a  Citi   Property Investorsand Gazit Globe Ltd joint venture, agreed in   August  2008,  Rachel Lavine  wasappointed Chief Executive Officer   of  Atrium.  Rachel  Lavine  has significant experience of both real estate and the CEE region and was previously  President and CEO of Plaza Centres.  The Board is chaired by  Chaim Katzman,  founder  of Gazit Globe Ltd. (TASE:GLOB), which  has  extensive global   experience  of  all aspects of the real estate industry and  is  one of  the  largest,  developers, owners and operators of shopping centres in the world.

The Company is based in Jersey and  dual  listed  on  the  Vienna   and  Euronext Amsterdam Stock Exchanges under the ticker ATRS.

@@start.t3@@Ende der Mitteilung                                                 euro adhoc

ots Originaltext: Atrium European Real Estate Limited
Im Internet recherchierbar:

Further inquiry note:
Financial Dynamics, London
Richard Sunderland  / Laurence Jones
Phone: +44 (0)20 7831 3113

Branche: Real Estate
ISIN:      JE00B3DCF752
Index:    Standard Market Continous
Börsen:  Wien / official market

Weitere Meldungen: Atrium European Real Estate Limited

Das könnte Sie auch interessieren: