Atrium Buys Shopping Center in Poland

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Atrium European Real Estate has purchased the Galeria Dominikańska shopping center in Wrocław, Poland, from a joint venture of the Otto Family and Deutsche EuroShop AG for €151.7 million.

The center has approximately 32,900 square meters of gross lettable area spread over three levels and across 102 units, as well as a gym let to AM Fitness Club and approximately 1,250 square meters of office space. The center is 100 let to international and national brands with a focus on fashion.

Atrium focuses on shopping centers in central and eastern Europe.

"Galeria Dominikańska is an important acquisition for us, being a large, well-established and dominant shopping center which is in a prime location in one of the major cities of Poland, our most important market," said Rachel Lavine, chief executive of Atrium European Real Estate. "The transaction allows us to start putting the proceeds of our recent Eurobond placement to effective use while increasing Atrium's weighting to Poland, the CEE's largest economy, to over 50 percent and taking its exposure to A- rated or above countries to above 75 percent."