EANS-Adhoc: Atrium European Real Estate Limited / ATRIUM ACQUIRES ARKÁDY PANKRÁC SHOPPING CENTRE IN PRAGUE FOR EUR162 MILLION

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22.01.2015

ATRIUM ACQUIRES ARKÁDY PANKRÁC SHOPPING CENTRE IN PRAGUE FOR EUR162
MILLION

Ad hoc announcement - Jersey, 22 January 2015: Atrium European Real
Estate Limited ("Atrium"or the "Company") (VSE/Euronext: ATRS),
announces that it has made further progress with its strategy of
becoming the dominant owner, operator and developer of shopping
centres and retail real estate in its core markets within Central and
Eastern Europe, having signed an agreement to acquire a 75% interest
in the Arkády Pankrác shopping centre (the "Centre") in Prague, the
Czech Republic for a consideration of c.EUR162 million. Atrium has
agreed to acquire the stake from Unibail-Rodamco S.E., which owns 75%
of the Centre in a joint venture with the Otto family, which will
continue to own the remaining 25%. The acquisition, which will be
financed using existing cash resources and is subject to the
fulfilment of certain conditions precedent, is expected to be
finalised in Q2 2015.

Arkády Pankrác opened in 2008 and is a prime modern shopping centre
comprising 38,200 sqm of retail GLA, along with parking for c.1,100
cars. With footfall increasing every year since opening and reaching
over 11 million in 2013, the Centre is well established as one of the
principal shopping centres in Prague.

The Centre is 99.5% occupied and has a weighted average lease term of
over six years. It is occupied by c.120 retail tenants comprising a
strong mix of mid to upper segment retail brands which are primarily
orientated towards fashion. Key and anchor tenants include an
Interspar Hypermarket, a Datart electronics store, H&M, New Yorker,
Humanic, Peek & Cloppenburg, as well as Inditex and LPP Group fashion
brands.

Arkády Pankrác is well located in Prague 4, which is a high density
residential area that is also evolving as a business location, with
250,000 sqm of office space in the immediate vicinity of the Centre
and a further c.50,000 sqm in the pipeline. The Centre is located at
the junction of two of Prague's main roads and is c.10 minutes by car
from the city centre, as well as being in close proximity to the
motorway network. Arkády Pankrác also offers excellent connectivity
to Prague's public transport network, benefitting from a direct
connection to the metro within the shopping centre, as well as two
bus lines and a tram line in the immediate area.

Arkády Pankrác's location and connectivity provide it with a large
and affluent catchment of c.1.8 million inhabitants within a 30
minute drive time radius, and c.928,000 within a 15 minute drive
times. Within the immediate catchment of seven minutes' drive time
there are c.254,000 inhabitants whose average annual consumer spend
per capita is c.30% higher than the Czech national average.

Following the acquisition,ECE will continue to manage the Centre,
working closely alongside Atrium's in-house team of retail experts.

Commenting on the acquisition, Josip Kardun, Atrium Group CEO,
said:"This is the third prime shopping centre acquisition we have
announced in recent months, and, once complete, it will mean we have
added approximately EUR370 million, or c.100,000 sqm, of high quality
retail property to our income producing portfolio. Furthermore, it
allows us to put a significant proportion of the proceeds of last
year's EUR350 million unsecured bond placement to work quickly and
effectively, whilst increasing Atrium's exposure to its core markets.

"Combined with the recently announced disposal of 72 smaller retail
properties and acquisition of AFI Palác shopping centre in Pardubice,
the addition of this prime shopping centre will fundamentally improve
the profile of our Czech portfolio. I am also pleased to say that the
acquisition marks the positive culmination of a considerable amount
of hard work by our team in recent months, allowing Atrium to make
further significant progress towards its goal of establishing itself
as the dominant shopping centre owner, operator and developer in our
core markets within the CEE."

For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Nick Taylor
atrium@fticonsulting.com

About Atrium European Real Estate Atrium is a leading real estate
company focused on shopping centre investment, management and
development in Central and Eastern Europe. As at 30September 2014the
Group owned 151 shopping centres and retail properties, with a market
value of EUR2.5billion, diversified across seven countries with a
total gross lettable area of 1.3 million sqm. In 2013, Atrium
produced a gross rental income of EUR203.5 million. The Company is
based in Jersey and dual listed on the Vienna and Euronext Amsterdam
Stock Exchanges under the ticker ATRS. This press release appears as
a matter of record only and does not constitute an offer to sell or a
solicitation of an offer to purchase any security. Atrium is
established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services
Authority as a certified Jersey listed fund, and is listed on both
the Vienna Stock Exchange and the NYSE Euronext Amsterdam Stock
Exchange. Appropriate professional advice should be sought in the
case of any uncertainty as to the scope of the regulatory
requirements that apply by reason of the above regulation and
listings. All investments are subject to risk. Past performance is
no guarantee of future returns. The value of investments may
fluctuate. Results achieved in the past are no guarantee of future
results.

Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Nick Taylor
Richard.sunderland@fticonsulting.com

end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English