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Atrium sells Militari

Alex Hayes 27 April 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 sells Militari
South African investor MAS REI is the new owner of the Militari centre
ROMANIA Atrium European Real Estate has sold the Atrium Militari shopping centre in Bucharest to South African investor MAS Real Estate for EUR 95 mln.

This was Atrium’s only asset in Romania, which it sold with a 9 pct premium on book value as recorded on December 31st 2017. The deal is expected by the end of the third quarter of 2018. The divestment is part of Atrium’s current strategy to rebalance its portfolio to larger scale centres in Poland and the Czech Republic.

Atrium CEO Liad Barzilai commented: “The disposal of Atrium Militari, our only Romanian asset, represents another important step in our strategy of reweighting our portfolio towards high quality retail and leisure centres in strong urban locations at the heart of their local communities. This sale, together with our recent sales in Hungary, leaves us with an increased weighting towards Poland and the Czech Republic, where we have significant critical mass, and are better placed to benefit from leveraging efficiencies and economies of scale”.


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