Prodea Investment acquired building in Athens
Prodea Investments has acquired a 5,462-square-metre office building in Athens, implementing its strategy to acquire commercial real estate with significant value add prospects. Prodea Management has not yet decided on the use of the property as its proximity to the Acropolis, the Athens centre and a subway station makes it ideal for both office and hospitality use after renovations. The building is situated on Syggrou 44 ave., and the acquisition price for it amounted to €5.9 million.
Prodea also continues its investment in logistics centres by acquiring the 100% of ILDΙM. ILDIM owns the logistics centre in Aspropyrgos area which was constructed in September 2019 and meets the most up-to-date logistics specifications. The total surface of the property is 5,069 sq.m. and is already leased to a trusted tenant. The acquisition price of the property amounted to €2.79 million. The acquisition of ILDIM’s shares was based on the Company's equity, taking into account the aforementioned consideration for the property.
Original Story: Capital
Adaptation/Translation: Kiki Athanasiadis