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Trade Estate: New logistics center in Elefsina

Trade Estate, the REIC of Fourlis Group, has signed a pre-contract agreement for the lease of new storage facilities in Elefsina. The company has entered an agreement with an independent retail group for a development of a logistics center of over 50,000 sq.m.

In early 2022, Trade Estate reached an agreement with RECON SA, which already had plots in Elefsina, for the joint creation of an integrated complex. After the acquisition of 50 % of RECON, Trade Estate entered into a bond agreement of €10,283 m, with a 7-year maturity to that company, which is expected to finance the development of the investment. 

In addition to this investment, Trade Estate also has pre-contract agreements for the acquisition of retail parks in Ioannina and Larissa, in which two medium-sized IKEA stores operate. After the transactions of the first months of 2022, the value of the company’s assets amounted to €270.9 m, with logistics centers and large retail parks.

Original Source: Euro2day.gr

Adaptation/Summary: Kiki Athanasiadis

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