The property located in Athens, at the junction of Michalakopoulou and Rapsanis str, worth €17.1 m and covers a total area of 8,936 sq.m. It is a seven-storey office building, that has four basements with auxiliary spaces and parking spaces.
More specifically, according to the announcement, Piraeus Bank proceeded to the sale of the through a bidding conducted with Piraeus Real Estate as a sales consultant. “Trastor REIC was declared the highest bidder. The sale, according to the announcement, is part of the Bank’s strategy to make good use of the real estate portfolio that Piraeus Real Estate owns and manages “.
The CEO of Piraeus Real Estate, Mr. George Kormas, stated: “At Piraeus Real Estate we are very satisfied with the sale of a significant property of our portfolio. The Greek real estate market as early as 2019, had begun to show substantial signs of recovery and despite the effects of the pandemic, the completion of agreements of this magnitude, such as the sale of the building at the junction of Michalakopoulou and Rapsani, highlights the true dynamics and resilience of real estate. It is an industry that is expected to lead the development of the country immediately after the pandemic, while winning the bet of the integration of new digital technologies and bioclimatic architecture with the aim of green, environmentally friendly development “.
Original Source: Insider.gr
Adaptation/Summary: Kiki Athanasiadis