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residential Assets News: Greek Real Estate Intelligence

Premia Properties acquired residential property at €10.2 m
Premia Properties proceeded to the signing of a preliminary agreement for the acquisition of an independent property of serviced apartments located in Piraeus (Agios Dionysios area). The property consists of 58 fully equipped apartments, with a total area of 3,600 sq.m. and is leased to a well-known international company through a long-term lease which expires in 2034. The value of the transaction will amount to € 10.2 m. The transaction is the first of a series of intended transactions in the framework of a relevant strategic framework. Original Source: Capital.gr Adaptation/Summaty: Kiki Athanasiadis
 
REMU reportedly agreed to sell property of €3m
REMU, the Real Estate Management Unit of the of Bank of Cyprus, reportedly agreed with a group of investors the sale of a large property in Aglantzia worth €3 m. The property with a total area of 3,581 sq.m, is located very close to the Academy Park, on Aglantzias Avenue. The property is divided into two urban zones. Specifically, the 2,112 sq.m. are in a commercial area and have a building factor of 140% and coverage of 50%, which allows the construction of a four-storey building, with a maximum height of 17 meters. The remaining 1,469 sq.m. are in a residential area, with a building factor of 120% and coverage of 50%, which allows the construction of a building with a maximum height of 13.5 meters. Lately there has been mobility in the sales of expensive real estate that Cypriot banks have in their portfolio. Original Source: Philenews.com Adaptation/Summary: Kiki Athanasiadis
 
3 more properties of Michalis Goulandris were sold at auction
After his house on Stisichorou Street, Michalis Goulandris, a former state name in the field of shipping, lost three or three more apartments. It all came out in a third auction for debts to banks and was awarded to unknown bidders, who paid up to €9.75 m. The maisonette of 690 square meters, which occupies the 3rd and 4th floor of an apartment building at 1 Vassileos Georgiou Street, was awarded at this price. For the 390 square meter apartment on the 2nd floor of the same building on Vas. Georgiou Street, the starting price was €3.9 m and the final bidder offered €4.26. The third sold property, a ground floor apartment of 134 sq.m. was put up for auction with a starting price of €735 thousand and was awarded at €1,072. The three apartments of Vassileos Georgiou were confiscated in February 2019 for debts of M. Goulandris and his company (T. Network Real Estate) to the banks, from loans over €30 m that had been granted in the period 2006-2010. These loans were included in securitization packages and secured by Intrum. Original Source: Sofokleousin.gr Adaptation/Summary: Kiki Athanasiadis