Brook Lane Capital purchases the South Polis mall
Brook Lane Capital placed the highest bid for the South Polis shopping mall which is owned by Alpha Bank. The mall was built by the B. Vovos Group.
Alpha Bank had announced a tender in December for the sale of Attica II AEP, which includes the 18 acre property in Paleo Faliro and two office buildings on Papanikoli Street in Chalandri. The highest bid was close to €30 m and was reportedly submitted by Brook Lane. Investment firms Trastor and Orilina were also among the bidders.
The net worth of the Attica II SA portfolio amounts to €23.8 m. The South Polis mall includes a complex that is leased to Village Multiplex and Jumbo. Brook Lane reportedly aims to turn the vacant lot of the property into office buildings.
Brook Lane has acquired by Alpha Bank in the past another property portfolio previously owned by the B. Vovou Group for €90 m.
The investment company also acquired last year a portfolio of office buildings, one of which was the 17,000 sqm complex leased by Vodafone Greece, on Ethnikis Antistaseos Street in Chalandri. It has also acquired a horizontal property of an office building in Kifissias Avenue 95 - 97 on the Attica Ring Road, a 24-26 office building in Kifissias Avenue leased by Samsung, an office building on Michalakopoulou str, leased by the insurance company AXA and a property in Metamorphosi leased by the Porsche dealership. Brook Lane had also acquired the building leased by Microsoft on Kifissias Avenue, for more than €10 m.
A few weeks ago, Eurobank announced that Brook Lane will purchase two portfolios of 370 properties totaling € 84m.
Original Source: Euro2day
Adaptation/Translation: Kiki Athanasiadis