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offices Market News: Greek Real Estate Intelligence

Briq Properties purchased office building in Pireaus
BriQ Properties announced the purchase of an independent office building with a ground floor store located at 3 Dimitriou Gounari Street in Piraeus. The building consists of a ground floor store, five office floors and underground storage spaces. It has a total area of ​​2,428 sq.m., of which the superstructure is 2,334 sq.m. The property is located in a key location, 250 meters from the coast of Poseidon and is fully leased to a company manufacturing and trading in shipping items. The price for the purchase amounted to €2,100,000 and the investment was financed by a loan. The CEO of BriQ Properties, Mrs. Anna Apostolidou, stated "we are very satisfied with our new investment in Piraeus. This property is in a prominent position in the port of Piraeus and offers good performance and potential for added value in the Company's portfolio." Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis
Trastor acquired office building worth €17.1 m
The property located in Athens, at the junction of Michalakopoulou and Rapsanis str, worth €17.1 m and covers a total area of ​​8,936 sq.m. It is a seven-storey office building, that has four basements with auxiliary spaces and parking spaces. More specifically, according to the announcement, Piraeus Bank proceeded to the sale of the through a bidding conducted with Piraeus Real Estate as a sales consultant. "Trastor REIC was declared the highest bidder. The sale, according to the announcement,  is part of the Bank’s strategy to make good use of the real estate portfolio that Piraeus Real Estate owns  and manages ". The CEO of Piraeus Real Estate, Mr. George Kormas, stated: “At Piraeus Real Estate we are very satisfied with the sale of a significant property of our portfolio. The Greek real estate market as early as 2019, had begun to show substantial signs of recovery and despite the effects of the pandemic, the completion of agreements of this magnitude, such as the sale of the building at the junction of Michalakopoulou and Rapsani, highlights the true dynamics and resilience of real estate. It is an industry that is expected to lead the development of the country immediately after the pandemic, while winning the bet of the integration of new digital technologies and bioclimatic architecture with the aim of green, environmentally friendly development ". Original Source: Insider.gr Adaptation/Summary: Kiki Athanasiadis
Prodea: Sale of real estate portfolio worth €134.2 m
PRODEA Investments sold a portfolio of 18 properties, offices and stores in Greece. The total sale price amounted to €134.2 m, while the fair value, based on an estimate made by independent appraisers, amounted to €129.2 m. Prodea CEO Aris Karytinos said: "The price tag for this portfolio shows that, despite the temporary, we believe, difficulties posed by the pandemic, properties with significant investment characteristics such as those in the Prodea portfolio remain of undiminished interest. Prodea is working with the acquiring company on an expanded strategic cooperation framework, the terms of which have not yet been finalized, with the aim of further promoting our business aspirations". Original Source: naftemporiki.gr Adaptation/Summary: Kiki Athanasiadis