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News Release


Jones Lang LaSalle advises Atrium European Real Estate Limited

Warsaw, 13 December 2011 – Atrium European Real Estate Limited, one of the leading real estate companies focused on shopping centre investment, management and development in Central and Eastern Europe, has acquired the Molo shopping centre located in Szczecin, Poland, from PFCE Soparfi A, a real estate fund managed by CBRE Global Investors. The transaction value was €55 million. Atrium was advised by Jones Lang LaSalle in this transaction.

The acquisition has been financed through a mixture of equity and debt and follows Atrium’s €191 million purchase of the Palác Flóra shopping centre in Prague, Czech Republic, in September.

Situated in a prime location, Molo is one of the leading shopping centres in Szczecin, Poland’s seventh largest city, which has a population of over 400,000 and is one of the country’s largest seaports. The centre is 100% let and, following a c€10 million refurbishment and extension which was completed in November 2010, now offers 28,161 sqm of gross lettable area (“GLA”) of which 26,235 sqm is retail. Molo is anchored by Carrefour and Media Markt, along with a number of Polish and international brands including H&M, TK Maxx, Cubus, Reserved, Deichmann, Douglas, New Yorker, Cropp Town and Home & You, among others. Molo also offers 504 sqm of offices housed within the main building, which are 100% let, 218 sqm of storage for the centre’s retailers and a 1,200 sqm Carrefour petrol station. It also benefits from over 860 on-site parking places and, as one of the first shopping centres built in Szczecin (in 2000), has a well-established loyal customer base.

Molo is located just 13 km from the main Polish-German border crossing on the A6 motorway and is located in a highly visible position on one of the main roads of Szczecin city, where it provides good access for customers arriving by car. In addition, it has excellent transport connections including three bus links and three tram lines.