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  • Transaction / Assets
    Building In Peristeri, Athens
  • Seller
    Piraeus Bank
  • Buyer
    IPTO
  • € MM
    12

Piraeus Bank sells property to IPTO

Power Transmission Operator (IPTO) purchased a four-storey building in Peristeri, Athens, from Piraeus Bank Group.

Piraeus Real Estate conducted the auction for the building at the junction of Kifissos Avenue and Konstantinoupoleos 1 str. The property is worth €12 m and has a total space of ​​15,583 sq.m. It includes offices, shops, auxiliary spaces and a Public Power Corporation (PPC)  substation.

According to the bank’s announcement, Piraeus Bank Group has a large portfolio of real estate, able to meet the most demanding needs of the market. The bank now proceeds to a strategically important sale, which further strengthens the company’s leading position in the real estate sector.

The Senior General Manager, Head of the Real Estate Group of the Piraeus Bank Group and CEO of Piraeus Real Estate, George Kormas, stated: “In the context of the active management of the real estate portfolio of Piraeus Bank Group, Piraeus Real Estate proceeded to the sale of the multi-storey four-storey property in Peristeri, worth €12 m, proving that despite the difficult period for the national economy, there are still significant windows opportunity in the domestic real estate market for strategically important agreements. With the completion of the transaction, Piraeus Real Estate confirms that it is able to meet the high demands and needs of the market, thanks to its experienced team of highly trained specialists “.

Original Source: Euro2day.gr

Adaptation/Summary: Kiki Athanasiadis