Trastor expands Athens portfolio with €4.26M property acquisition

Specifically, on 23 October 2026, the Board of Directors of Trastor REIC approved the signing of a sale and purchase agreement for the acquisition of the property from National Insurance for a consideration of €4.26 million.

The building is located at 1 Skouleniou Street, near Agioi Theodoroi Square and a short distance from Klafthmonos Square, in an area characterised by commercial activity and convenient access to central Athens.

Related-Party Transaction

The acquisition constitutes a related-party transaction, as National Insurance is a wholly owned subsidiary of Piraeus Bank, which also holds an 83.89% stake in Trastor’s share capital.

Accordingly, the transaction followed the approval procedure stipulated by the applicable regulatory framework. Trastor’s Board of Directors granted the required special authorisation, taking into account an independent valuation report prepared by P. Danos & Associates and an assessment report issued by Grant Thornton.

According to the latter, the transaction and its consideration are considered fair and reasonable for the company and its non-related-party shareholders, including minority shareholders.

Trastor emphasises that the investment serves the company’s interests and is consistent with its investment plan, capitalising on the property’s strategic location in the commercial centre of Athens.