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All Market News: Spanish Real Estate Intelligence

Trastor acquired commercial property in Glyfada for €7,5 m

The acquisition price of the two properties was financed by funds raised during the Company's Share Capital Increase that was completed in August 2019.

According to the announcement, the two properties are of exceptional visibility and accessibility in the center of Glyfada, on Grigoriou Lambraki and Angelou Metaxas streets.

Specifically, Trastor acquired a commercial space of 550 sq.m. The acquisition price amounted to € 5,630,000. The company also acquired a commercial area of ​​207 sq.m. which consists of a basement and ground floor shop. The store is leased and the purchase price was € 1,905,000.

Two bids for the casino at Elliniko

Mohegan's US-based joint venture with GEK TERNA and Hard Rock both filed bids to acquire the casino license at Elliniko. The evaluation process.

The bidder is expected to be selected within the next quarter. The time to complete the bidding process depends largely on any appeals.

In the market it is argued that the winning bidder will largely be picked depending on the amount offered to obtain the casino license, although what is planned in Elliniko is more of a hospitality and entertainment complex. According to the terms of the tender, the minimum price the bidders can offer is € 30 million. The financial offer weighs 60% in the overall evaluation and therefore a small difference in the price offered may cover a greater divergence in the technical evaluation.

Trastor REIC acquired logistics centre in Magoula, Attica

Trastor REIC announced the purchase of a logistics centre in Magoula, Attica.

According to the press release "on 18.09.2019, participating in the procedures of a legal entity special administration asset sale process, Trastor was declared as the preferred bidder for the acquisition of a logistics centre located in the area of Magoula in Aspropyrgos, Attikis. The acquisition price of this property is€ 1,100,00. The Company will further inform the investing public when all required formalities have been concluded".