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

Trastor acquires full ownership of the Kronos Business Center in Maroussi, Attica
According to an announcement by the company, it bought a 20% indivisible percentage of the ownership of the building for €2.35 m. The company already owned 80%. As Trastor mentions in the announcement, "the building is at an excellent location. It is a modern three-storey office building, with a total area of 4,736.78 sq.m., and it is fully leased. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis
 
Trade Estates acquired the largest Commercial Park in Greece
Trade Estates REIC, a company of the Fourlis Group, signed the purchase of shares of the company KTIMATODOMI SA, owner and manager of the largest commercial park in Greece, named FLORIDA 1. The Commercial Park is located in Thessaloniki and covers an area of 132,000 sq.m., with commercial areas of 31,407 sq.m., leased 100% to twelve of the largest retail companies in Greece (LeroyMerlin, AB VASILOPOULOS, JUMBO, Kotsovolos, Moustakas, Jysk and others). The Company after the specific acquisition, is expected to increase its revenues by € 4.5 million per year. The commercial park is located in the rapidly developing area of Thermi, with easy road access near the eastern end of the Thessaloniki ring road, while the metro line connecting the city center with the airport will have a station there. Orignal Source: Capital.gr Adaptation/Summary: Kiki Athanasiadis
 
Noval Property acquired the former Kodak property
Noval Property announced that through the company The Grid SA, which is owned half by Noval Property and half by Brook Lane Capital, acquired through a bidding process a plot of land of approximately 16 sq km, on the former Kodak property, in Maroussi. A modern complex of green office buildings with a total built-up area of approximately 49,000 sq.m. is to be developed on this plot which will adopt the principles of sustainable development and bioclimatic design and is expected to receive LEED certification. The transaction price amounted to €28.6 m and was financed through a combination of bank loans and equity. The financing funds, according to the part corresponding to Noval Property, for the construction of the project will be raised from the Green Common Bond Loan of Noval Property, which was admitted for trading on December 7, 2021 in the Fixed Income Class of the Regulated Buying Market. Original Source: Capital.gr Adaptation/Summary: Kiki Athanasiadis