18 July 2018

Grivalia acquires 50% stake in a commercial asset

21 September 17 - RE+D Magazine
Grivalia acquires 50% stake in a commercial asset


IBI Group

Consultant - GREECE


Antulio Richetta

Director IBI Group
Grivalia Properties REIC (the “Company”) announces that it has been declared as the preferred bidder in an e-auction conducted by PQH Single Special Liquidation SA, as special liquidator of ATE Leasing, for the acquisition of 50% undivided interest over a commercial asset, located in 340, Syngrou Avenue in Kallithea, Attica.


The asset is a modern, mixed-use, multi-storey building with excellent visibility. The total area is approximately 31,100sqm, of which 13,950sqm are office & retail areas and 17,150sqm comprise 400 parking spaces on four underground levels and other auxiliary & common areas.

The asset is partially leased to a multinational electrical & electronic equipment chain and to a media company.

Since early 2017 the Company is already the owner of the remaining 50% of the undivided interest over the property and will now become single-owner of the asset.
The price for the acquisition was set at €14.36million. The transaction is expected to be concluded in the following weeks.


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