Eurobank Properties REIC - Acquisition of three properties and car park spaces

Eurobank  Properties REIC hasproceededwiththe acquisitionof3 buildingsanda number of carparkspacesof a total area of  12.219 sqm. The acquisition has been implemented within the framework of the investment strategy of the Company for the expansion of the latter’s property portfolio.  

The Company has purchased three independent buildings of office and conference centre use and a number of car park spaces that are situated within a building complex in Nea Ionia, Attica. The acquisition price was set at 27 million Euro. It is noted that, based on the relevant valuation performed by the Body of Sworn-in Valuers of Greece (SOE), the value of the properties in their current condition is estimated at 27.35 million Euro.

The first building is leased to a leading informatics company, the second one is going to be leased by companies belonging to Eurobank EFG group whereas Eurobank Properties REIC is negotiating the lease of the third building to a well-known catering company. Theleaseagreementsforthelasttwobuildingsareexpectedtobeconcludedintheverynearfutureat which time the Company will proceed with a relevant announcement to its investors.   

According to Mr Aristotle Karytinos, executive member of the Board of Directors and member of the Investment Committee of Eurobank Properties REIC, the present investment of 27 million Euro will be financed with part of the funds that were raised in the IPO of Company. Mr Karytinos stressed that through this investment together with the recent investment of the office building in Moschato (southern Athens) the Company has managed to absorb approximately half the proceeds from the IPO within three months. Mr Karytinos concluded that the Company’s investment strategy for future growth focuses on the acquisition of office, retail, logistics and industrial spaces in prime locations, taking into consideration the prevailing market conditions.