Atrium European Real Estate Limited has completed the sale of a portfolio of 10 retail assets in the Czech Republic. The portfolio has been sold in a corporate transaction to a private client account managed by Palmer Capital for an asset value equivalent to 102.6 mio EUR. Cushman & Wakefield advised Atrium on the disposal of the portfolio.
"This deal shows that well leased regional retail assets producing predictable cash flows are in high demand with a wide variety of investors," says Alexander Rafajlovič of Cushman & Wakefield’s Capital Markets team in the Czech Republic.
The Portfolio consists of 10 retail assets located throughout the Czech Republic, with a total lettable area of approximately 86 200 sq m, and comprises smaller format retail properties. The sale forms part of the company’s ongoing strategy to improve its portfolio through selective rotation of the properties and focusing on larger scale, well-established shopping centres which dominate their catchment areas in Atrium’s core markets.