REIC | Retail | Athens-Pireaus-Attica

ICI: Acquisition of a Commercial two storey building

ICl REIC announces the acquisition of a commercial two storey building with basement (Supermarket) in Pikermi district occupied by HELLENIC HYPERMARKETS SKLAVENITIS

RE+D magazine

03.08.2021

Intercontinental International REIC (ICI), following its participation in a private tender procedure regarding the acquisition of a commercial two storey building with basement (Supermarket) of 4.408,32 sq.m. in total with parking on adjacent plots of 5.663,58 sq.m. in total in Marathonos Avenue corner Xintara Street in Pikermi, Attica and in particular three adjacent plots in 1, Xintara Street corner 4, Marathonos Avenue, where the two storey building/ shop with basement is built, 3, Xintara Street and 5, Xintara Street in Pikermi district of Rafina- Pikermi Municipality, occupied by HELLENIC HYPERMARKETS SKLAVENITIS S.A. as a long period tenant, announces to its shareholders and the broader investment community the acquisition of the said property on July 30, 2021 at the price of €8.086.970.

The consideration was fully paid, financed almost in full by funds raised by another private placement under a bond loan facility of €40 m. with Eurobank that took place already on the second trimester of the current fiscal year.

To this end, the Chief Executive Officer of the company Evangelos I. Kontos welcomes another shop (supermarket) of the company Sklavenitis on the company’s portfolio, with the acquisition of which the cooperation with the said tenant is broadening to 4 shops of a total of 8.817 sq.m. leased area. With the acquisition of the specific plot the value of the company’s portfolio is increased up to €115,60 m. (based on the value as of 31/12/2020) and at the same time the investment plan of the company is being fulfilled up to 50,3% (total amount €40 m.), aiming to the total fulfilment by the end of the current fiscal year.

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