The company said it purchase from a foreign investor four commercial property assets (supermarkets) of a total space of around 75,000 sq.m. at a price of 47 million euros.
These assets are located in Gerakas, central Athens, Aghios Ioannis Rentis and Patras. National Pangaea also purchased a real estate asset (supermarket and office building) of a total of space of 12,000 sq.m. in Limassol, Cyprus at a price of 24 million euros in the framework of an existing agreement with Chris Cash & Carry Ltd of Sklavenitis Group.
All five assets were leased to Sklavenitis Group for a period of 25 years. National Pangaea said the leasing agreements expand a partnership with Sklavenitis Group, the largest retail food and consumer products group in the country.
