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All Market News: Spanish Real Estate Intelligence

PRODEA Investments acquired RE assets in Athens for €16.9 m
More specifically, PRODEA has acquired an office complex of a total surface of 7,137.32 sqm, located at 72, Ethnikis Antistaseos Str, in Chalandri, in the northern suburbs of Athens and in proximity to Kifissias Avenue (the main prime office avenue in Athens), and a mixed use building, consisting of offices and retail units, of a total surface of 1,892.12 sqm, located at 44-46, Amphiaraou Str, near the centre of Athens. According to the announcement, the office complex in Chalandri features a listed building of 943.97 sqm, operationally connected to a modern office structure of a total surface 6,193.35 sqm, combining seven decades of architectural evolution and two distinct eras of design into prime corporate headquarters with neoclassical and contemporary features. The complex was fully refurbished in 2019 and can accommodate a single user or multiple tenants. It  is  easily  accessible  via central  avenues  and  public  transportation  and  boasts  a spacious garden area of 2,000 sqm that can cater to the needs of corporate events. As part of the same transaction, PRODEA also acquired a  mixed  use  building,  consisting  of offices  and retail  units,  of  a  total  surface  of 1,829.12sqm,  located  in  the Municipality  of Athens.  The property is easily accessible via Lenorman Str, which connects the National Highway Athinon–Lamias to the centre of Athens.  It was refurbished in 2010 and has additional building potential. Original Source: BusinessDaily.gr Adaptation/Summary: Kiki Athanasiadis
Attica Bank focuses on its RE properties
Attica bank aims to make the most of its Real Estate assets in order to improve its balance sheet. The Bank currently owns 183 investment properties, with a total fair value of €58 m. The properties Attica Bank owns are mostly offices and shops, residential, logistic centers, parking lots and industrial, as well as land plots. Based on geographical distribution, 21.86% is located in Attica, 29.51% in Thessaloniki and Halkidiki and 48.63% in the rest of Greece. Most of it is residential (58.47%), followed by commercial - professional use and land with percentages of 18.03% and 17.49% respectively, while only 6, 01% industrial. In the region of Attica, Attica Bank owns a total of 40 buildings, which represent 59.4% of the total value of the portfolio, or €34.48 m. The property that stands out is a complex of four apartment buildings with 157 horizontal properties in the area of ​​Lavrio; it includes 51 apartments, 47 warehouses and 57 parking spaces, with a total value of €5.74 m. The bank also owns in Attica nine land plots, 15 residential properties, 13 commercial and three industrial properties. Bank of Attica also has significant assets in Thessaloniki. In total there are 54 investment properties, of which 37 are residential, eight retail properties and offices, industrial buildings, and six land plots. In the rest of the country, there are another 89 properties, of which 55 residential, 12 commercial and 17 plots. There are also five industrial buildings. The bank is looking to make the best of these properties, either through selling them or through offering certain properties (commercial, logistics, office buildings) for lease. Original Source: Kathimerini.gr Adaptation/Summary: Kiki Athanasiadis
Greece: E-Platform for Mortgage-Loan Subsidy Programme launched
The Greek finance ministry launched the operation of a digital platform for applications to the "Bridge" program, which subsidizes mortgage loans on primary residences for individuals and businessmen hit by the coronavirus pandemic. The platform was launched on Monday and in just two days it received more than 7000 applications. Applications will be accepted until September 30 in the digital platform of the Private Debt Management Special Secretariat. The program offers a state subsidy for a total of nine months, covering up to 90% of a monthly loan tranche in the first quarter, 80% in the second quarter and 70%in the third quarter. The program is aimed to reward conscientious borrowers hit by the pandemic, limiting the risk of creating a new generation of NPLs, supporting a payment culture and strengthening social cohesion. Borrowers included in the program are obliged to keep up with consistent payments of their loan after the nine-month subsidy period. Original Source: in.gr Adaptation/Summary: Kiki Athanasiadis