PREMIA’s participation in the Investor Consortium is 25%, while Dimand Group
participates with a 75%.
The Investor Consortium will acquire 65% of the share capital of Skyline, which is the vehicle that will own the real estate portfolio, and Alpha Bank will retain a 35% stake. Furthermore, Alpha Bank will financially support the project Skyline through a long term loan up to the amount of € 240 million.
The portfolio comprises 573 assets in various sectors (i.e. offices, commercial real estate, retail, residential assets, industrial/logistics assets), with a total gross area of approximately 500,000 sq.m.
A significant number of assets are already being leased, with Alpha Bank being the main tenant, while the rest are intended to be, either redeveloped and repositioned in the real estate market, or to be sold.
The total value of the real estate portfolio amounts to €438 million, and will gradually
be transferred to Skyline in phases.
We aim for this transaction to be completed by the end of the 2nd quarter of 2023.
As advisors to the Investor Consortium acted PricewaterhouseCoopers Business
Solutions S.A. (PwC) (financial advisors), DLA Piper (as legal advisors of foreign law),
and Potamitis-Vekris (as legal advisors of Greek law).
Mr. Elias Georgiadis, Chairman of the BoD of PREMIA PROPERTIES, made the following statement: "This agreement enhances Premia’s strategic plan through the acquisition of a significant real estate portfolio with great prospects of high profitability. We are happy to cooperate with DIMAND, a strategic partner for Premia, as well as with ALPHA Bank which remains as a shareholder in Skyline and also finances this venture. We are certain of the success of the Skyline project, a pioneering project for the Greek real estate standards".
Mr. Konstantinos Markazos, CEO of PREMIA PROPERTIES, stated: "PREMIA, through
its participation in Skyline, will strengthen its profitability and will consolidate a leading
role in the Greek real estate investment market. PREMIA's role in the managerial
scheme of this project will be active with a key scope to significantly contribute to the
success of the largest real estate portfolio transfer in recent years, in Greece. This
investment will strengthen PREMIA's fundamentals and lead to its dynamic growth
over the next five years."
