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Atrium European Real Estate Limited

CATEGORY
Investor of the Decade, CEE
Atrium European Real Estate (AERE) is one of the top owners, operators and redevelopers of fashion and food driven shopping centers in Central Europe. As of today, the Group's portfolio includes 32 shopping centers and properties located in four countries with a market value of EUR 2.7 billion and a total gross leasable area of more than 870,000 sqm. These properties are located in Poland, the Czech Republic, Slovakia and Russia. Atrium is listed on the Vienna Stock Exchange and Euronext Amsterdam under the ticker ATRS. AERE focuses on strengthening and further developing its portfolio in Poland and Czech with focus on the capital cities as locations with the biggest growth potential. AERE systematically increases overall quality, image, and value of its key assets. Atrium has built its strength on a team of expert individuals located across our regional offices with capacity in asset management, development, leasing, marketing, innovation, sustainability finance and corporate.
NAME OF COMPANY
Atrium European Real Estate Limited
NAME OF PRESIDENT OR MANAGING DIRECTOR FOR THE REGION
Liad Barzilai
PRESIDENT OR MANAGING DIRECTOR FOR THE REGION PROFILE
Liad was appointed as Group Deputy Chief Executive Officer on 21 December 2016 and took over the role of Group Chief Executive Officer on 23 February 2017. Liad was previously with the Atrium Group from 2008 until November 2015, latterly in the position of Group Chief Investment Officer responsible for the Group’s pipeline of acquisitions and divestments, and from November 2015 until his appointment to Atrium held the role of Chief Investment Officer with Gazit-Globe.
Type of investor
Specialised retail investor in core assets as owner, developer and operator
REGIONS ACTIVE IN (IN WHICH COUNTRIES THE COMPANY OPERATES)
Poland, the Czech Republic, Slovakia and Russia
OFFICE PROJECTS INCLUDED IN PORTFOLIO
55,000 sqm of office space across portfolio in mixed-use schemes with largest being Atrium Flora and Wars Sawa & Junior department stores.
MARKET VALUE OF OFFICE PROPERTIES HELD BY INVESTOR (in EUR)
Would not disclose.
SIZE OF THE OFFICE PROPERTIES HELD BY INVESTOR (GLA)
55,000
RETAIL PROJECTS INCLUDED IN THE PORTFOLIO
Czech Republic
Arkady Pankrac, Prague
Atrium Flora, Prague
Palac Pardubice, Pardubice
Poland
Atrium Biała, Białystok
Atrium Copernicus, Toruń
Atrium Gama, Radom
Atrium Gdynia, Gdynia
Atrium Kasztanowa, Piła
Atrium Molo, Szczecin
Atrium Mosty, Płock
Atrium Olkusz, Olkusz
Atrium Plejada, Bytom
Atrium Płock, Płock
Atrium Promenada, Warsaw
Atrium Reduta, Warsaw
Atrium Siemianowice, Siemianowice Śląskie
Atrium Świętochłowice, Świętochłowice
Atrium Targówek, Warsaw
Focus Bydgoszcz, Bydgoszcz
Galeria Dominikańska, Wrocław
Kaufland, Płock
King Cross Praga, Warsaw
Wars Sawa Junior, Warsaw
Slovakia
Atrium Duben, Zilina
Atrium Optima, Kosice
Russia
Atrium’s Park House Brateevo, Moscow
Atrium’s Park House Kazan, Kazan
Atrium’s Park House Sygnalnyi, Moskow
Atrium’s Park House St.Petersburg, St. Petersburg
Atrium’s Park House Togliatti, Togliatti
Atrium’s Park House Volgograd, Volgograd
Atrium’s Park House Yakaterinburg, Yakaterinburg
MARKET VALUE OF RETAIL PROPERTIES HELD BY INVESTOR (in EUR)
2.7 billion
SIZE OF THE RETAIL PROPERTIES HELD BY INVESTOR (GLA)
870,000 sqm
WAREHOUSE PROJECTS INCLUDED IN THE PORTFOLIO
Would not disclose.
MARKET VALUE OF WAREHOUSE PROPERTIES HELD BY INVESTOR (in EUR)
Would not disclose.
SIZE OF THE WAREHOUSE PROPERTIES HELD BY INVESTOR (GLA)
Would not disclose.
HOTELS INCLUDED IN THE PORTFOLIO
Would not disclose.
MARKET VALUE OF HOTELS HELD BY INVESTOR (IN EUR)
Would not disclose.
SIZE OF THE HOTELS HELD BY INVESTOR (GLA)
Would not disclose.
RESIDENTIALS BUILDINGS INCLUDED IN THE PORTFOLIO
Would not disclose.
MARKET VALUE OF RESIDENTIALS BUILDINGS HELD BY INVESTOR (in EUR)
Would not disclose.
SIZE OF THE RESIDENTIAL BUILDINGS HELD BY INVESTOR (GLA)
Would not disclose.
OTHER AREAS OF THE COMPANY’S OPERATIONS AND ALTERNATIVE INVESTMENT MARKETS (APARTMENTS FOR RENT, SENIOR HOUSES, STUDENT HALLS, DATA CENTRES)
Would not disclose.
OTHER ASSETS INCLUDED IN THE PORTFOLIO
Would not disclose.
MARKET VALUE OF OTHER ASSETS HELD BY INVESTOR (in EUR)
Would not disclose.
SIZE OF THE ASSETS HELD BY INVESTOR (GLA)
870,000 sqm
THE LARGEST PURCHASE TRANSACTIONS BETWEEN OCTOBER 2009 AND SEPTEMBER 2019 (THE SUBJECT OF THE TRANSACTION, ITS TOTAL TAKE UP AREA AND MARKET VALUE IN EUR)
Since 2009 Atrium has acquired a number of portfolio continuing it’s portfolio development and build up. In that period Atrium portfolio decreased from 150 properties to 32 core shopping centres maintaining same portfolio value of approx. 2.7bn Euro. Largest transactions included:
- Acquisition of Focus Mall in Bydgoszcz, Poland
- Acquisition of Arkady Pankrac stake in Prague, Czechia,
- Acquisition of Wars Sawa & Junion department stores in Warsaw, Poland
- Acquisition of Kings Cross Praga in Warsaw, Poland
ACQUISITION ACTIVITY ACROSS THE CEE REAL ESTATE MARKETS BETWEEN OCTOBER 2009 AND SEPTEMBER 2019
Since 2009 Atrium has acquired a number of portfolio continuing it’s portfolio development and build up. In that period Atrium portfolio decreased from 150 properties to 32 core shopping centres maintaining same portfolio value of approx. 2.7bn Euro. Largest transactions included:
- Acquisition of Focus Mall in Bydgoszcz, Poland
- Acquisition of Arkady Pankrac stake in Prague, Czechia,
- Acquisition of Wars Sawa & Junior department stores in Warsaw, Poland above 300 meuro
- Acquisition of Kings Cross Praga in Warsaw, Poland

In June 2019, Atrium European Real Estate purchased fifth Warsaw asset – King Cross shopping centre, for 43 million euro.
Annual income and net profit
Atrium’s 2018 published net renal income amounted to 179,8m Euro.
The milestones in the company’s history over the last decade – the key events and achievements that are a measure of the company’s development and success, the scale of development, number of employees now and 10 years ago, new services, new markets etc.
Since 2009 Atrium has continued its journey to reposition it’s portfolio. During that time portfolio value remained stable at 2.7bn but the strategic repositioning meant that the company decreased numbers of asset from 153 to 32. This meant exiting non-core markets including Hungary and Romania and concentrating on strong urban locations with nearly 50% of portfolio now located in Warsaw and Prague, CEE’s strongest and best performing cities. Atrium owns now 5 properties in Warsaw and 3 in Prague with remainder properties being located in strong locations across Poland, Czech Republic and Russia. During that time Atrium has launched a redevelopment programme in excess of 250m Euro aimed at repositioning it’s assets by addition additional offer including food & beverage and entertainment.
FUTURE PLANS
We focus today only on growing urban areas with high population density, are replacing secondary cities for the central cities, constantly changing the tenant mix and adapting it to the new age – more leisure time and going out, restaurants, entertainment, businesses that withstand a recession such as medical clinics and various services.
It is necessary not only to optimize tenant-mix by diversifying the offer and proposing unique features that will allow to distinguish the shopping center from the competitor. Modernizations of the architecture and interior design are also important so that spending time becomes an interesting and pleasant experience.
WHY THE COMPANY DESERVES THE AWARD (IN ONE PARAGRAPH DESCRIBE THE SPECIFIC ACHIEVEMENTS OF THE COMPANY)
For a number of years Atrium’s ongoing strategy has been to reposition our portfolio towards large, high quality dominant retail centres in prime urban locations and capital cities. As a result of recent activity 83 percent of our portfolio is now focussed on the two strongest economies in Central Europe, Poland and the Czech Republic. And, importantly, over 50% is in central locations in the capital cities of Warsaw and Prague. In addition, we have undertaken a substantial amount of development and refurbishment at many of our malls, adding entertainment and leisure areas, such as food courts, cinemas and other activities. This has allowed us to turn them into real leisure destinations which increases visitor numbers and promotes retail spend. We’ll continue to follow a strategy that looks to dominant schemes in good locations in built-up areas.
COMPANY WEBSITE
www.aere.com