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Atrium leaves Hungary

Alex Hayes 13 February 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Atrium leaves Hungary
Budapest Kőbánya Family Center was one of the assets in Atrium's Hungarian portfolio
HUNGARY Shopping centre owner Atrium is pulling out of the country with the sale of 18 properties.

The company has also announced its intention to sell its remaining assets within the country. Atrium CEO Liad Barzilai stated: “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. 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.” The Hungarian sales, together with the disposal of one property in the Czech Republic, have raised EUR 70 mln, which the company claims represents an 8 pct premium on the properties book value as recorded on September 30th 2017. The centres have been sold in a number of separate transactions including the sale of its stake in a shopping centre in Brno.


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