F.l.t.r Atrium Olkusz, Media Markt building in Gdynia, Atrium Olkusz, Atrium Gama in Radom. Credit: Atrium
Ticker

Atrium European Real Estate sold 5 retail assets to Metropol Group

Atrium European Real Estate sold 5 retail assets („Tyrion portfolio”) to Metropol Group. The seller was represented by Avison Young and JLL investment teams throughout the transaction.

This retail portfolio consists of the following assets in Poland: standalone Media Markt building in Gdynia, Atrium Olkusz, Atrium Świętochłowice, Atrium Siemianowice and Atrium Gama in Radom.

These convenience retail properties are established in the local environment and benefit from the vicinity of large and dynamically growing residential areas. Among tenants there are well known international and national brands such as Bricomarche, OBI, Carrefour, Biedronka, RTV Euro AGD, CCC, Rossmann, Media Expert or Pepco.

Properties have excellent visibility and accessibility by cars, public transportation and for pedestrians.

Their total GLA is ca. 45,000 sq m.

„First half of 2020 saw a few retail transactions being closed and as expected, majority of these took place during the first quarter. However, there were still some retail closings after the coronavirus pandemic outbreak – and these were mainly convenience schemes, standalone, food-anchored objects, with significant part of them having redevelopment potential – type of properties we have identified some time ago to be sought-after by the investors. Five assets sold by Atrium are well established convenience schemes with great tenant mix and superb performance. As a result, they remained resilient to recent market turmoil, what was confirmed by the fact, that footfall returned to the average levels from the beginning of the year within just 2 weeks after shopping centres’ reopening after the lockdown. This transaction proves that investors are still interested in retail properties, provided that they meet certain characteristics. “ – comments Piotr Łopusiński, Senior Consultant, Investment, Avison Young.

Atrium was advised by Avison Young, JLL and Dentons while Greenberg Traurig provided legal advice to the purchaser.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

BAML appoints new management team

Ballymore Asset Management Limited (BAML) has appointed Tony Hymers as Managing Director and Ross MacCaskill as Finance Director.

BIG Shopping Center raised 55 million euros at the Israeli stock exchange for further expansion in Serbia and the Balkans

The BIG Group intends to use the proceeds from this bond issue to continue its expansion in Serbia and in the Balkan region.

MAPIC 2021 back in Cannes and towards new retail mix

The international retail property market event will gather 8,200+ retail, property, food & leisure leaders from over 80 countries at the on-site event in the Palais des Festivals from November 30 to December 2, 2021.

CBRE becomes largest shopping center manager in Iberia

CBRE reaches the number of 50 shopping centers under management and leasing in 2021, amounting to 2.3 million sq m throughout the Iberian portfolio.

Newly umdasch shopfitted Julius Meinl on Vienna’s Graben reopened

After several months of renovation work, the traditional Viennese gourmet food store Julius Meinl on the prestigious Graben in Vienna presents itself in new light in the middle of the exclusive pedestrian zone.

AM Alpha acquires Nutgrove Retail Park in Dublin

The Munich-based family office AM alpha has completed a further transaction in Dublin this year with the acquisition of the Nutgrove Retail Park in a consistently strong trading location. This is the first major retail park trade in Dublin since 2018.