GRIVALIA PROPERTIES Α.Ε.Ε.Α.Π.
Acquisition of a leased office building in the centre of Athens
Eurobank Properties REIC (the "Company") has signed a contract for the acquisition of an office use building in a central location of Athens from "ICAP GROUP S.A."
The property is located in the municipality of Athens, at 7 Papadiamantopoulou street, and it consists 1.281,5 sq.m. of office spaces and 238,03 sq.m. supporting use spaces. The property was leased back to "ICAP GROUP S.A." with an entry yield of 8,0%.
The acquisition price for the property was euro 4,0m., which was financed from the proceeds of the company share capital increase of December 2007. The fair value as estimated by the Body of Sworn In Valuers of Greece (SOE) is euro 4,034m.
The abovementioned acquisition 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.
The property is located in the municipality of Athens, at 7 Papadiamantopoulou street, and it consists 1.281,5 sq.m. of office spaces and 238,03 sq.m. supporting use spaces. The property was leased back to "ICAP GROUP S.A." with an entry yield of 8,0%.
The acquisition price for the property was euro 4,0m., which was financed from the proceeds of the company share capital increase of December 2007. The fair value as estimated by the Body of Sworn In Valuers of Greece (SOE) is euro 4,034m.
The abovementioned acquisition 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.