Dentons has advised G City Europe (formerly: Atrium European Real Estate) on a conclusion of a preliminary agreement with NEPI Rockcastle for the sale of 100% of shares in Atrium Copernicus Sp. z o.o., a company holding Atrium Copernicus Shopping Center in Toruń. The €127 million transaction is expected to be closed by the end of 2022.

Atrium Copernicus Shopping Center, which offers 48,000 sq.m. GLA, is the most prominent shopping centre in Toruń with a great tenant mix of Polish and international fashion brands. The property has a high occupancy rate of 98% and is well positioned for future growth, both organically and through further value enhancement and extension potential. The shopping mall is expected to generate an annual net operating income of €9.6 million in the medium term. The BREEAM certified building enjoys a strategic location in the city, with excellent visibility and access from all city districts.

G City Europe sold the property as part of its strategy to reposition its portfolio toward large, high-quality dominant shopping malls in prime urban locations and to invest in a new class of assets (PRS – private rental sector).

The transaction was led by partner Jacek Jezierski, who was supported by senior associate Alicja Puławska and associates Zuzanna Soboń and Damian Lewandowski.

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