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ICI REIC: Memorandum of Understanding for €12 m property acquisition

Intercontinental International REIC announced the signing of a memorandum of understanding that concerns the acquisition and re-leasing of a property on Kifissias Avenue, Chalandri, Attica.

The announcement:

“Following its participation in a private tender procedure regarding the acquisition of commercial property (an office building of 3.180,32 sqm) located at 266 Kifissias Avenue, Chalandri and the partial lease-back of the building to its current owner GLAXOSMITHKLINE Single Member AEBE (the Transaction), Intercontinental International REIC (ICI) announces to its shareholders and the broader investment community that after negotiations towards the conclusion of the Transaction, it has signed a statement of understanding with the current owner pertaining to the framework of the procedure and the prompt timing of the closing, for the total amount of Euro 12.050.000,00. ICI is satisfied with the process of the negotiations and is keen on proceeding as quickly as possible to the execution of the relevant agreements. The Company will further inform its Shareholders and the investors about the intended conclusion of the Transaction”.

Original Source: Euro2day.gr

Adaptation/Summary: Kiki Athanasiadis

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