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offices Market News: Greek Real Estate Intelligence

PRODEA implemented its first investments using the raised funds of its green bond
More specifically, Prodea acquired 51% (they already owned 49%) of the company Panterra Development and Real Estate, which develops an office building complex on Syggrou Avenue, Lagoumitzis and Evridamantos Streets in Athens. For the construction Panterra adopted the most current international sustainability practices, aiming at the LEED, Gold level certification. Prodea collaborated with Dimand for the development of the band. The complex consists of two autonomous office buildings. The construction is expected to take place in December 2021 (building A) and in May 2022 (building B). The total area will amount to 30.9 thousand sqm. Panterra has signed a notarial preliminary agreement to sell building A to Generali Hellas at a price of €34.8 m. In the logistics sector, the Company completed the acquisition of New Metal Expert, which owns a complex of two commercial warehouses in Aspropyrgos, Attica. The warehouses newly built and they are used as Storage and Distribution Centers. They meet the modern logistics standards, incorporating energy efficient features more than the minimum regulatory requirements. The total area of the warehouse, including the extension of a total area of ​​1,629 sqm, which is estimated to be delivered in November 2021, amounts to 23.8 thousand sqm and are leased to a trusted tenant. The price for the acquisition amounted to € 12.5 million. Lastly, PRODEA proceeded to the total repayment of a bond loan of €56 m regarding the green KARELA office building in Peania, which has been developed in accordance with the principles of sustainable development and is LEED Gold certified. Original Source: Capital.gr Adaptation/Summary: Kiki Athanasiadis
Intercontinental International acquired an office complex
ICI REIC completed the acquisition of an office building in Chalandri at the price of €12.05 m and proceeded to a partial lease of the property to GlaxoSmithKline. For the acquisition of the building, which is located at 266 Kifissias Street, in Chalandri and has an area of 3,180.32 sq.m., and for its partial lease to the company GlaxoSmithKline, Intercontinental International participated in a private tender, last October. The announcement was made on March 3, 2021, and the acquisition and partial lease of the property was completed on June 3. The amount was paid in full and it was partly financed by funds raised from a private placement under a bond loan covered by Eurobank, and partly in cash, after another profitable year for ICI. With the addition of this landmark property, ICI's portfolio increases its value by 12.6% to €107.51 m and is enhanced in quality, as it is one of the few special office buildings in Greece. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis
Eurobank: An investment of €100 m in Piraeus is being completed
An investment of more than €100 m by Eurobank is completed after 5 years of intensive work, giving a new form of international standards to three building blocks in Piraeus, which had been left to the ravages of time for decades. These are the three building blocks in the area of ​​Agios Dionysios in Piraeus, the "Piraeus Port Plaza", the former building complex of the tobacco industry "Papastratos", which started operating 90 years ago, to complete its course in time, in 2008, when the company relocated to its new facilities. Dimand, which had undertaken both the construction and the management of the development of the project, completed the delivery of the office space, with a total capacity of 7,500 employees. Τhe complex already hosts offices of Alpha Bank and Teleperformance. Original Source: Naftemporiki.gr Adaptation/Summary: Kiki Athanasiadis