Clifford Chance

Clifford Chance advises Atrium on the €83 million acquisition of Palác Pardubice shopping centre in the Czech Republic

Clifford Chance advised Atrium European Real Estate Limited on the acquisition of a property company holding the AFI Palác Pardubice shopping centre in the regional capital city of Pardubice in the Czech Republic.

Clifford Chance's role was to advise the buyer on the acquisition transaction which is in line with Atrium’s strategy to buy prime income-producing shopping centres in the Czech Republic, Slovakia and Poland. As a result of the AFI Palác deal, now almost 20 percent of Atrium’s total income-producing assets are located in the Czech Republic.

AFI Palác Pardubice was originally developed in 2008 and offers 20,900 sqm of GLA across four floors with the ground and first floor dedicated to retail. The second floor is occupied by a multiplex cinema and conference centre. The shopping centre's current occupancy is over 95%, with a very powerful tenant mix including H&M, Deichmann, Intersport, Baťa, Promod and Sephora.

In 2011, Clifford Chance advised Atrium on a similar acquisition, the prime shopping and office centre Palác Flóra in Prague.

The Clifford Chance team was led by partner Emil Holub, primarily assisted by associates Milan Rákosník and Michal Pivarči and junior associate Eliška Chalupová.