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(Visited 157 times, 1 visits today)
  • Transaction / Assets
    Village Park in Rentis, Attica and the Florida 1 Business Park in Pylea, Thessaloniki
  • Seller
    Pradera
  • Buyer
    Blue House Capital, Fourlis
  • € MM
    60

Pradera fund sells major commercial properties

Pradera has put up for sale two major commercial real estate properties: The Village Entertainment Park, a multifunctional amusement park established in 1999 in ​​Renti, Attica, and the Florida 1 business amusement park in Pylea, Thessaloniki. Pradera has been looking for buyers for months through the two tenders and the process is expected to be completed in the near future unless things change due to the COVID-19.

The Village Entertainment Park is located at the intersection of Thivon Avenue and Petrou Ralli Street. The preferred investor is Bluehouse Capital. The bid range is between €17 m to 20 m. The sale is expected to be completed by the end of spring. The fund will invest another €4-5 m in renovations. Village Entertainment Park is located on a 42 sq km land plot, which includes a three-storey shopping mall with 45 shops, 20 cinemas, 1,800 parking spaces and an auditorium.

Florida 1 Business Park in Pylea, Thessaloniki was built in 2000 on a ​​29.6 sq km land plot. Interest in the property has been expressed by Fourlis and Grivalia. Fourlis seems to be leading the tender. The lease area of ​​Florida 1 is occupied by some of the top retailers in the Greek market:  AB Vassilopoulos, Jysk and Kotsovolos chains.

The property was acquired by Pradera in 2006 at the price of €40 m. The sell price is reportedly approximately the same.