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real-estate-news Market News: Spanish Real Estate Intelligence

TRASTOR acquired logistics center in Aspropyrgos, Attica

Trastor acquired a logistics center of 5,678,86 sq.m. in the area "Melissia" in Aspropyrgos. The price amounted to 3,073 m. The property consists of a ground floor storage and office floor and it is leased to Seagull Diametaforiki Emporiki SA.

The CEO of the Trastor, Tassos Kazinos, stated: “With the acquisition of a logistics center in the heart of Aspropyrgos, we are integrating the first Logistics property into our portfolio. Trastor expands its portfolio with a new property category and continues to invest in high-end properties. With carefully thought-out investment moves and unlocking opportunities, we are steadily creating an important portfolio of high-quality real estate with the priority of maximizing returns, further diversifying the portfolio and focusing on the development of the Company. ”

Athens: Major complex to complement Golden Hall shopping mall

The € 25m investment by Lamda Development for the expansion of the capacity of the Maroussi Golden Hall shopping mall is expected to be completed before the end of 2019.

Lamda Domi, a group subsidiary, has been developing the west wing of the former International Broadcasting Center building, where Golden Hall is situated. The completion of the investment is programmed before the beginning of the Christmas season.

The project is planned to expand the shopping centre by 11,500 sq. meters of extra rental space (GLA). According to the plans, there will be built commercial shops, restaurants and children's recreation spaces, as well as a fitness area. In addition, there will be an "Olympic Museum of Athens", with a total area of approximately 3,250 sq. meters. New underground parking space is also planned.

According to Lamda Development's financial results for the first half of 2019, the EBITDA of the "Golden Hall" mall remained stable at 8.6 million euros.

Trastor purchased office building in Vrilissia, Attica

Trastor SA announced the acquisition of an office building in Vrilissia, Attica at the intersection of Attiki Odos and Propontida Street for the price of 5,75 m euros.

It is a modern high-quality office building with a total surface of 4,003 sq.m. and consists of a ground floor, first floor and two underground spaces for main and utility use. The building is rented.

The purchase of the property was financed by funds raised during the Company's Share Capital Increase that was completed in August 2019.