History

History

The company was founded in 1997 under the name “Central European Land Limited” and was listed on the Vienna Stock Exchange in 2002. In August 2008, after an extensive change of company structure and management, it became “Atrium European Real Estate”, based in Jersey (Channel Islands), and was also listed on the Euronext Amsterdam Stock Exchange in 2009. Atrium is currently dual-listed in Vienna and Amsterdam, and has 7 office locations across Europe.

In October 2016, Atrium completed the sale of the Atrium Azur shopping centre in Riga for €12.5m, marking the company's market exit from Latvia.

On the 10th of February, Atrium completed the sale of 10 non-strategic Czech assets with a total GLA of c. 86,200 m² for an amount of €102.6m. The transaction marked another milestone in Atrium's process of rebalancing its portfolio through selective rotation and focusing on larger scale, well-established shopping centres. For the press release click here.

On the 15th of October, Atrium singed a new 5-year unsecured revolving credit facility for a total of €125m provided by a syndicate of ING, Citibank and HSBC. For the press release click here.

On the 30th of June 2015, Atrium completed the acquisition of a 75% interest in the Arkády Pankrác shopping centre in Prague, the Czech Republic, for €162m. The centre comprises 38,200 m² of retail GLA and is anchored by an Interspar hypermarket, a Datart electronics store, and several fashion brands. For the press release click here.

On the 7th of May, Atrium tapped its 2022 unsecured bond, generating cash proceeds of €160m at a yield of 2.9%. For the press release click here.

On the 12th of March 2015, Atrium opened the 17,300 m² extension of Atrium Copernicus in Poland, Torun. Following the refurbishment and extension, Copernicus has become the lagest centre within a radius of 150 km. For the press release click here.

On the 22nd of January 2015, Atrium announced it signed an agreement to acquire a 75% interest in the Arkády Pankrác shopping centre in Prague, the Czech Republic, for €162m. The centre comprises 38,200 m² of retail GLA and is anchored by an Interspar hypermarket, a Datart electronics store, and several fashion brands. For the press release click here.

On the 15th of January 2015, Atrium completed the sale of a portfolio of 72 non-core retail assets in the Czech Republic with a total lettable area of c.177,000 m² for €69m. This marks a significant milestone in the company’s ongoing rebalancing of its portfolio. For the press release click here.

On the 25th of November 2014, Atrium completed the acquisition of Focus Mall in Bydgoszcz, Poland, for €122m. The centre comprises 41,000 m² of retail GLA and is anchored by an Alma supermarket, a Saturn electronics store, and a Cinema City. For the press release click here.

On the 6th of November 2014, Atrium announced the acquisition of AFI Palác Pardubice in the Czech Republic for €83m. The centre comprises 20,900 m² of retail GLA and is anchored by a Cinema City as well as many fashion brands, including H&M. There is also a large Tesco owned and occupied superstore adjacent to the centre For the press release click here.

On the 16th of October 2014, Atrium successfully issued a €350m unsecured 8-year eurobond bearing a fixed coupon of 3.625%. The bond was placed with a broad range of institutional debt investors across Europe. For the press release click here.

On the 24th of April 2014, Atrium completed the sale of a Turkish land plot situated on Istanbul’s TEM highway for a total consideration of €47m. For the press release click here.

On the 20th of March 2014, Atrium opened its largest greenfield development, the 75,000 m²-GLA Atrium Felicity in Lublin, Poland. The centre is anchored by an Auchan hypermarket, a Leroy Merlin DIY superstore, and a Saturn electronics store. For the press release click here.

August - Atrium acquires the 32,900 m² Galeria Dominikanska Shopping Centre in Wroclaw (Poland) for €152 million. For the press release click here.

April – Atrium places a €350 million bond issue at an interest rate of 4.0% due in 2020. Atrium’s first unsecured bond, rated BBB- investment grade by both S&P and Fitch, is 3.7 times oversubscribed. Placed with a broad range of European institutional debt investors, the bond is an endorsement of the progress made by the company and provides Atrium with substantial financial liquidity. For the press release click here and for the prospectus click here.

September/ October - On the 6th of September and 8th of October, leading rating agencies Standard and Poor's and Fitch upgraded Atrium's long term corporate credit rating by one notch to investment grade, from BB+ to BBB- with a Stable outlook. For the press releases click here and here.

July - Atrium starts building its 75,000 m²-GLA greenfield shopping centre project - Atrium Felicity in Lublin, Poland.

March - Atrium is included in the EPRA Emerging Index.

December - Atrium acquires the 27,000 m² Molo Shopping Centre in Szczecin (Poland) for €55 million. For the press release click here.

October - The significant progress made in 2011 was recognized by our credit rating agencies. Standard and Poor's upgraded Atrium's long term corporate credit rating to "BB+" from "BB" with a "Stable" outlook, and shortly afterwards Fitch revised Atrium's outlook to "Positive" while affirming our corporate credit rating of "BB+". For the press releases click here and here .

September - Atrium concludes its largest acquisition with the purchase of the 38,500 m² Palac Flora Shopping Centre in Prague (the Czech Republic) for €191 million. For the press release click here.

July - Final agreement is reached with Meinl Bank resolving all claims and severing all business ties, providing an ultimate break from the company's past. For the press release click here.

July - Atrium achieved further progress in rationalising its development pipeline and land bank through a settlement with Multi Development. For the press release click here.

May - Atrium concludes the €171 million acquisition of the prime 52,100 m² Promenada Shopping Centre in Warsaw(Poland). For the press release click here.

November- Fitch and Standard & Poor's upgrade the company's credit rating by two levels to "BB+" from "BB-" and by one level to "BB" from "BB-", respectively. Both rating agencies have a "Stable" outlook. For the press releases click here and here.

November - Opening of the first phase of the 9,900 m² Galeria Mosty Shopping Centre in Plock (Poland). For the press release click here.

October - The dividend policy was increased from €0.12 to €0.14 per ordinary share per year, to be paid quarterly commencing in the first quarter of 2011.

December - The company returns capital to shareholders through the payment of a €0.50 per share special dividend.

October - Atrium's Volgograd Park House Shopping Centre in Russia is extended, bringing the total GLA of the asset to 55,000 m². For the press release click here.

September - Atrium's Board introduces a dividend policy for the first time in the company's history. The dividend was set at €0.12 per share per year, payable in quarterly installments.

April - Atrium completes the development of the 51,400 m² GLA Militari Shopping Centre in Bucharest (Romania), its first retail asset in Romania.

April - Atrium opens a 12,100 m² extension to its Togliatti Park House Shopping Centre in Russia, bringing the total GLA to approximately 12,100 m². For the press release click here.

January - As part of a restructuring initiative to improve the efficiency of the company's balance sheet, Atrium initiates a programme of bond buybacks and conversions.

December - Atrium completes the development of Optima Shopping Centre in Kosice (Slovakia) with the opening of Phase II which added a further GLA of 16,000 m². For the press release click here.

November - Opening of two new centres in Poland: the 51,000 m² Galeria Kasztanowa Shopping Centre in Pila and the 55,300 m² Atrium Koszalin Shopping Centre in Koszalin.

August - The company is relaunched as Atrium European Real Estate, reflecting several strategic changes concluding the transaction with CPI/ Gazit and marking the beginning of the company's turnaround. Structural changes include the reconstitution of the Board of Directors, ensuring the company's independence from its past corporate governance, and a new internalised management team under the leadership of CEO Rachel Lavine, whose appointment had been announced in May. The changes are made in accordance with the agreement signed with CPI/ Gazit whereby CPI/ Gazit undertakes a significant strategic investment in the company.