LAMDA DEVELOPMENT SA with ORILINA PROPERTIES REIC acquired the special purpose company Limar S.A. which owns plots of total area of 72.121 sq.m.
The plots are located next to the Mediterranean Cosmos shopping center, in eastern Thessaloniki. Lamda owns a 20% stake in SPV while Orilina Properties owns the remaining 80%.
Orilina Properties and Lamda will jointly develop the main plot of 61.415 sq.m., a 12.300 m² high-quality building aiming at maximising synergies with the Mediterranean Cosmos shopping center and further enhancing the region’s excellent prospects.
The remaining plots of the portfolio of approximately 10.700 m² will be developed exclusively by Orilina. The total investment is expected to reach €25 m.
Original Source: eRed.gr
Adaptation/Summary: Kiki Athanasiadis