Dentons’ real estate team advised Atrium European Real Estate, a leading owner, operator and developer of shopping centers in Central and Eastern Europe, on the acquisition of the Focus Mall shopping center in Poland from Aviva Investors for €122 million. The transaction was financed using Atrium’s existing cash resources.
Focus Mall is currently the largest shopping center in Bydgoszcz, one of the ten largest Polish cities. Constructed in 2008 it comprises 41,000 sq.m. of retail space on two floors. It is nearly 100% let to anchor tenants, including a Saturn electronics store and a Cinema City, as well other high profile international and domestic retail fashion brands.
Dentons’ team was led by Tomasz Stasiak, partner, supported by Anna Garbula-Węgrzynowska, senior associate.
Commenting on the transaction Tomasz Stasiak said: “Last year we represented Atrium on the acquisition of another shopping center—Galeria Dominikańska in Wrocław—from JV partners, a private investor, and Deutsche EuroShop AG for €152 million. We are happy to have once again supported the client in building its portfolio and strengthening its position on the retail market across the CEE region.”
Atrium owns a €2.5 billion portfolio of 153 primarily food-anchored retail properties and shopping centers located predominantly in Poland, the Czech Republic, Slovakia and Russia.
Source: www.dentons.com
