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All 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
 
TRASTOR REIC acquired a land plot in Aspropyrgos
Trastor REIC through its 100% subsidiary DORIDA SA, acquired a land plot of 16,013.50 sqm, located at Melissia area in Aspropyrgos, Attica. The land plot is adjacent to existing logistics properties of the Company. The price for the acquisition amounted to €800,000. The company recently acquired an adjacent land plot in Aspropyrgos, thus creating a single plot of 78,700 sqm. Reportedly the company plans to invest €5 m in the development of a new, state-of the-art logistics center, which will carry Leed certification for its low environmental footprint. The company will create a single logistics hub, with a total area of ​​31.3 thousand sqm. This new investment will frame Trastor's existing logistics infrastructure at the same area. In particular, the company had acquired storage facilities of 25,000 sq.m. on a plot of 62.7 acres in the same area. The cost had reached €9.5 m. The warehouse is leased by Seagull, a logistics service provider. At the beginning of July Trastor acquired another warehouse, with an area of ​​5,262 sq.m. on a plot of 11.3 thousand sqm, in the same area. The cost of this transaction had amounted to €2.32 m. The tenant of the property is also Seagull. Trastor has created a portfolio of logistics properties with a total area of ​​52,500 sqm., in ​​Aspropyrgos and in front of the shopping center in Thriasio. To date, it has invested almost €30m in logistics facilities. Original Source: Kathimerini.gr Adaptation//Summary: Kiki Athanasiadis
 
Consortium of two companies cakes over the construction of Limassol Blu Marina
The Leptos Group announced the award of the construction works of the first phase of the residential works of the Limassol Blu Marine Development in Limassol, to a consortium between Iacovou Brothers (Constructions) Ltd and Zemco Construction Ltd.
Construction works of the Limassol Blu Marine Development have already started with the office tower, located on Franklin Roosevelt Avenue, which is currently under construction. In regards to the residential development, of which the first phase is a part of, construction works commenced last year. The execution of the project is expected to significantly benefit the Cypriot economy through the creation of hundreds of new job positions in both construction as well as trade and the services sectors. The overall investment will be covered by the income derived from the sale of the exclusive sea view apartment residences, which already ensures the completion of the project’s construction. Original Source: Philenews.com Adaptation/Summary: Kiki Athanasiadis