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offices Market News: Greek Real Estate Intelligence

TRASTOR REIC sold office building for €5,050 m
Automotivo Cars acquired the property of Trastor REIC at 278 Kifissias Avenue, in Chalandri. The company is the tenant of the property. The property consists of shops and office space of modern specifications, with a total area of ​​4,003 sq.m. on a plot of 1,117 sq.m. Trastor announced the sale for a total price of €5,050 m. Original Source: Mononews.gr Adaptation/Summary: Kiki Athanasiadis
NOVAL is preparing a new apartment and office building in Mets, Athens
The new serviced apartments of NOVAL are already being prepared according to the standards of another Noval property investment, K29. NOVAL is a subsidiary of the real estate company of the VIOHALCO group. The new investment in Mets is a building located on a plot of 873 sq.m., on Ardittou Street, one of the most important roads that essentially connects the southern suburbs of Athens with the city center, bypassing Syntagma square, and very popular tourist attractions. The building, with a total area of ​​4,253 sq.m., belongs to the Public Benefit Foundation for Social and Cultural Work by 75% and the company MEPAL SA. by 25%. It was leased with a long-term lease in 2019 for 15 + 10 years. NOVAL plans to convert it into a rented apartment and office building, in the model of its other corresponding project in Metaxourgeio, K29. The new building will have residences on its 4 floors and a swimming pool on the roof. There will be office space on the ground floor and underground parking space. The project has already received the building permit. Original Source: Bizness.gr Adaptation/Summary: Kiki Athanasiadis
ICI REIC: Memorandum of Understanding for €12 m property acquisition
Intercontinental International REIC announced the signing of a memorandum of understanding that concerns the acquisition and re-leasing of a property on Kifissias Avenue, Chalandri, Attica. The announcement: “Following its participation in a private tender procedure regarding the acquisition of commercial property (an office building of 3.180,32 sqm) located at 266 Kifissias Avenue, Chalandri and the partial lease-back of the building to its current owner GLAXOSMITHKLINE Single Member AEBE (the Transaction), Intercontinental International REIC (ICI) announces to its shareholders and the broader investment community that after negotiations towards the conclusion of the Transaction, it has signed a statement of understanding with the current owner pertaining to the framework of the procedure and the prompt timing of the closing, for the total amount of Euro 12.050.000,00. ICI is satisfied with the process of the negotiations and is keen on proceeding as quickly as possible to the execution of the relevant agreements. The Company will further inform its Shareholders and the investors about the intended conclusion of the Transaction”. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis