PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Austria's Atrium posts 2008 pre-tax loss on portfolio markdowns
Atrium European Real Estate, formerly Meinl European Land, a leading central and eastern European real estate investor focused on shopping centres, posted a 2008 pre-tax loss of e924m, including e434m in devaluations and an impairment of e231m. The loss was also due to termination costs of e276m to the previous management company. But rental income rose, and the average occupancy rate remained steady at 94%. The cash balance was e1.25bn, against e1.5bn debt, of which only e11m matures in 2009, and e10m in 2010.