Browse Press Releases
Latest  
Company  
Sector  
  Browse Newswire
Latest  
Company  
Sector  
Type  

 

 
     

EUROBANK PROPERTIES RAIC
Eurobank Properties REIC has acquired two retail properties in Athens for a total of Euro 4.3 m

July 24, 2007

Eurobank Properties Real Estate Investment Company (the Company) has completed the acquisition of two retail properties for a total of Euro 4.3 million and a total area of 791.18 sqm, in the context of the Company's investment strategy for further expansion of its property portfolio. Specifically, the properties are located in a building facing both Krissia, Fedriadon, Pythonos and Kanari square (Kanari street). One of the properties, located at 3 Kanari square, operates as a bank branch leased to EFG Eurobank Ergasias S.A.; the property has a gross lease area of 301.86 sqm and a market value of Euro 2.7 million as valued by the Body of Charted Valuers (SOE). The other property, located at Fedriadon street, operates as a super market leased to AB Vassilopoulos; the property has a gross lease area of 489.32 sqm and a market value of Euro 1.6 million as valued by the Body of Charted Valuers (SOE). Both properties have been leased for a period of twelve years, including a contractual commitment of the lessee not to terminate the lease agreement during the first five years. According to Mr. Nikolaos Galetas, General Manager of the Company, the present investment of Euro 4.3 in total million has been 100% financed with part of the funds that were raised in the IPO of the Company. The acquisition of these properties is in line with the Company's investment strategy for future growth through selective acquisitions of office, retail, logistics and industrial spaces in prime locations, taking into consideration the prevailing market conditions.




     




  Home  |  by Company  |  by Sector  |  About  |  Submit Materials  |  Contact  |  Disclaimer
 
 
Visit:   www.capitallink.com  |  www.capitallinkcyprus.com  |  www.capitallinkgreece.com  |  www.capitallinkrussia.com
www.closedendfundforum.com  |  www.capitallinkforum.com  |  www.irprofiles.com


©  Copyright 1996-2009. Capital Link, Inc. All rights reserved.