Atrium Group Services, a subsidiary of G City Europe, has sold the Atrium Flora shopping centre to Max Realitní, a real estate fund focused on investment in commercial retail and office properties in the Czech Republic, part of the Redstone Group. The Prague office of Clifford Chance advised the seller.
Atrium Flora is a renowned shopping centre located between the districts of Vršovice and Vinohrady in Prague. Spanning 20,000 sqm of retail space and 17,600 sqm of modern office space, the centre features approximately 130 stores across four floors, a dedicated food court on the top level, and an underground garage with 750 parking spaces. Additionally, Atrium Flora houses the only IMAX cinema in the Czech Republic, making it a destination for both shopping and entertainment.
G City Europe (formerly Atrium European Real Estate) is an owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, with a majority of its portfolio located in Warsaw. Atrium Flora was the last asset located in the Czech Republic.
Max Realitní, co-founded by Richard Morávek, manages properties with a market value of CZK 10.19 billion (€408 million), a leasable area of 92,000 sqm, and over 250 long-term tenants. Recently, the fund expanded its portfolio with the acquisition of the Myslbek shopping gallery.
The Clifford Chance team advising on the deal was led by counsel Milan Rákosník, with strong support from associate Šimon Dušek and in cooperation with partner Emil Holub.
Photo source: atriumfloraoffices.cz
