ECE buys two Polish shopping centres for 298 million euros

German real estate fund ECE has purchased two Polish shopping centres from Atrium European Real Estate for a combined 298 million euros.

The two sales, of Atrium Koszalin and Atrium Felicity in Lublin, part of Atrium’s ongoing strategy to reposition its portfolio towards large, “high-quality dominant retail centres in prime urban locations and capital cities”.

“These disposals continue the implementation of our ongoing strategy to consolidate our assets and to focus on higher quality assets in prime urban locations, that can deliver a stronger and more sustainable income in the long term,” said Liad Barzilai, CEO of Atrium Group.  “Warsaw and Prague are central to this strategy due to growing populations and very low unemployment, which are structural drivers that will support the growth performance of our assets.”

Last year, Atrium purchased Wars Sawa Junior shopping centre in the Polish capital Warsaw for 301.5 million euros from CBRE Global Investors.

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Photo: Atrium Felicity official Facebook page.