Value of Atrium’s Polish portfolio reaches €1.96 bln
08:00
The market value of the 22 Polish income-generating properties of shopping center owner, developer and manager Atrium European Real Estate reached €1.96 billion at the end of 2018, compared with €1.52 billion a year earlier. The figure accounts for 67.3 percent of the company’s entire portfolio of income-producing properties that comprises 34 assets and is worth €2.9 billion. Atrium last year completed three major redevelopment phases of its Warsaw malls – Atrium Promenada, Atrium Targówek and Atrium Reduta – and acquired the Wars Sawa Junior retail center in the downtown of the city for €301.5 million. At the moment, 33 percent of the company’s portfolio is located in Warsaw, representing 48 percent of its aggregate market value. In 2018, Warsaw assets delivered 16 percent of Atrium’s net rental income of €178.9 million.
The occupancy rate across the entire Polish portfolio stood at 96.2 percent at the end of last year.
