Atrium Bamberg: City council warns of impending “ruin”

Atrium Bamberg: City council warns of impending “ruin”
Atrium Bamberg: City council warns of impending “ruin”
  • Atrium Bamberg: Investor Eyemaxx Real Estate in financial trouble
  • “Current state of concern”: SPD parliamentary group makes current request
  • Topic becomes on Wednesday (October 27, 2021) discussed in the Bamberg city council
  • Eyemaxx stock has crashed: “For ‘normal’ investors, paper is a no-go”

In Bamberg, the news about the financial problems of the atrium owner Eyemaxx Real Estate caused noticeable unrest within a short time. The matter even made it onto the agenda of the city council meeting on Wednesday (October 27, 2021) at short notice. “The topic is being discussed in the city council”, shares Stephanie Schirken-Gerster, spokeswoman for the city of Bamberg. inFranken.de with. The SPD city council group got the ball rolling.

Bamberger SPD on Atrium: “Industry radio says that you have to worry a lot”

“The atrium is the future calling card for everyone who arrives in Bamberg by bus or train,” says Klaus Stieringer, emphasizing the importance of the building. As chairman of the Bamberg SPD city council, he quickly made a current request – so that the topic was still in on Wednesday the plenary session of the city council.

“Even before that, the property was not beautiful. Now, however, we are threatened with ruin,” warns the local politician. “The current situation is definitely worrying,” said the city council. “The project must by no means remain like this for years.”

Regardless of how great the financial problems of the Atrium investor actually are in the end, the question arises for Stieringer: “How is the city prepared when the latest horror and horror news is confirmed?” The leader of the SPD parliamentary group calls on the city to hold talks with Eyemaxx in any case. “In order to be able to act, one would have to be able to influence the owner – even if it will be difficult in practice.”

SPD politician calls on the city of Bamberg to act – Atrium investor gives the all-clear

Specifically, the head of the SPD city council group has two possible solutions in mind. “Option 1 is: the city itself can approach the owner as a prospective buyer,” suggests Stieringer. “Option 2 is: The city involves other developers who also support the project – provided that the owner agrees.”

Stieringer describes the current information on the economic condition of the real estate company as “thin”. “The industry radio among property developers says, however, that one must be very worried.” His suggestion: “It is important that the city does not just wait and see, but act actively.”

Atrium investor Eyemaxx Real Estate itself has meanwhile given the all-clear for the time being. “The project status remains unchanged,” said the company on Wednesday afternoon inFranken.de with. The failure to pay the coupon at the holding company level is not directly related to the further development of the project in Bamberg, emphasizes the property owner. “Eyemaxx is still in ongoing cooperation negotiations so that the Atrium project can be advanced.”

Atrium shopping center in Bamberg: Eyemaxx promised “1A revitalization”

The real estate company based in Aschaffenburg and Leopoldsdorf bought the former shopping center in 2018. Then this week the surprising news: The Atrium investor can no longer meet his interest obligations.

the share from Eyemaxx Real Estate then fell into the abyss, reports the finance portal “Der Aktionär”. The question arises not only in Bamberg: Is the realignment of the atrium now in danger?

Actually, the former Atrium shopping center in Bamberg should finally come back to life. The plans for this have recently become more specific. Accordingly, the first tenants are scheduled to move in in 2022. In addition to a fitness studio, a restaurant, a fashion boutique and even a hotel with 161 rooms are planned for the area next to the train station. “People can look forward to a first-class revitalization, the atrium will come to life again,” said Christine Rumpf, managing director of Eyemaxx Real Estate, back in July inFranken.de.

Investor reports payment difficulties – share in the low altitude

As the real estate company reported in a press release on Monday (October 26, 2021), Eyemaxx currently has do not have the necessary financial resourcesin order to make the interest payment due on October 26, 2021 for the 5.50% corporate bond 2018/2023 on time. “The reasons for this are previously unreported cash inflows from project sales in the mid single-digit million range as well as their failed refinancing,” says the Atrium owner.

According to the report of the portal “Der Aktionär”, Eyemaxx even threatens them insolvency. “Investors shouldn’t gamble with the share now,” warns the stock market magazine. The share is currently plunging into the abyss. In the title of the article is from one “Horror-News” the speech.

The industry portal “Onvista” reports something similar. Accordingly, the Eyemaxx share is currently “im Crash-Modus”. “We can do this in this country too Horrornachrichten report from the real estate sector “, it says in the corresponding article about the current lack of funds of the real estate company. According to” Onvista “the paper from Eyemaxx kinks by more than 60 percent a. “This means that the share has said goodbye to the normal share universe and is now in the Gamer Galaxy,” the article says literally. “For ‘normal’ investors, paper is a no-go,” it says here too.

 
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