Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited

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Company Information


-Stand alone retail box let to Media Markt-

Jersey, 18 November, 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 the second extension this  year  to its Togliatti Park House shopping centre in Russia.

The extension comprises a 6,780 sqm stand-alone retail box which  is fully  let to Media Markt, Europe´s leading consumer electronics retailer,  on  a  30  year lease with a break option after 10 years.

The extension to Media Markt follows the opening, in April 2009, of a 12,100 sqm, stand-alone retail unit fully let to Castorama, which is part of one of Europe´s leading DIY groups, on an initial 10 year lease with an option for a further five years.

Togliatti Park House is a shopping centre with a  GLA  of   approximately  46,000 sqm (including Media Markt) and is located on a 6.6 hectare site  in  Togliatti, in the Samara Oblast region of Russia.  It was  originally  opened  in  December 2006 and is anchored by the German based Metro group  with  a  7,000 sqm  "Real" hypermarket.    Other  tenants  include  a  mixture  of  local  brands such    as Technosila and Sportmaster, as well as number  of  strong   international  brands such as the electronics giant Apple, fashion retailers Next and Sisley  as  well as Mothercare, the specialist mother and infant retailer.

Togliatti Park House is located in the centre of the city and has approximately six million visitors per year.

Rachel Lavine, CEO of Atrium, commented:  "As the second extension to Togliatti Park House to open this year, in addition to the one we   recently  completed  at our Volgograd asset, the opening of  the   Media  Markt  retail  box  is  another positive step for Atrium.  It shows how, despite current market  conditions,  we can continue to create value at existing and proven assets, while  demonstrating that the appetite of some well respected international retailers to expand into the CEE and Russia remains."

Further  information  is    available    on    the    shopping    centre´s website:

For further information:

@@start.t2@@Financial Dynamics:        +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones

Atrium is established as a closed-end investment company  domiciled  in  Jersey.@@end@@

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 Investors and Gazit Globe Ltd joint venture, agreed in   August  2008,  Rachel Lavine  was appointed 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.

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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

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