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GRIVALIA acquires 15 supermarkets' portfolio

18 October 17 - RE+D Magazine
GRIVALIA acquires 15 supermarkets' portfolio

COMPANIES

GAIAOSE S.A.

Agency - GREECE

NAI Hellas

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Zeus

Fund - GREECE

PEOPLE

GRIVALIA Properties REIC announces it has officially completed the acquisition of a portfolio of fifteen retail assets (supermarkets) and one land plot for which it was declared as the preferred bidder in a Public Auction.

 

The total built area of the portfolio is 48,477sqm; seven units are located in Athens, two in Thessaloniki, one in each of Rethymno, Veria, Xanthi, Rhodes & Trikala, and one unit together with an additional land plot in Agrinio.

The transaction involves the acquisition of 100% of the properties except for one unit in Kolonaki (50.00% indivisible ownership) and one in Egaleo (43.75% indivisible ownership).

More specifically, the auction was held on 10th February, 2017 and comprised the total assets of "ZENON PROPERTIES SA", a company under special liquidation. 

The total price offered for the acquisition of the portfolio was € 16.25mn. The portfolio is currently leased to Sklavenitis Group.

It is noted that the Company had acquired the subject property portfolio in December 2002 for approximately €60mn and disposed it in November 2005 for approximately € 69mn.

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