Former Kodak property officially comprised in Noval Property's porfolio
Former Kodak property officially comprised in Noval Property's porfolio
  REIC  |  Office  |  Athens-Pireaus-Attica

Former Kodak property officially comprised in Noval Property's porfolio

The acquisition price amounted to €28.6 million and was funded by a combination of bank debt to “THE GRID SA” from Piraeus Bank and equity.
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RE+D magazine
09.12.2021
Noval Property announced that, through the company “THE GRID SA” (shareholding: 50% Noval Property, 50% Brook Lane Capital), has acquired, following a bidding process and pursuant to decision no.1417/2021 of the Single Member Court of First Instance of Athens, a land plot of approx. 16.000 sqm, located at 10-12 Himarras Str. and Amaroussiou Halandriou Str. in Maroussi (former Kodak property).

A modern complex of green office buildings with a total Gross Buildable Area of approx. 49,000 sq.m. will be developed, adopting sustainable development and bioclimatic design principles and is expected to receive LEED certification. The Design Group selection process is currently ongoing.

The acquisition price amounted to €28.6 million and was funded by a combination of bank debt to “THE GRID SA” from Piraeus Bank and equity.

The funds attributable to Noval Property for the construction of the project shall be drawn by Noval Property’s Green Bond, which was listed for trading in the Fixed Income Securities Category of the Regulated Market of the Athens Stock Exchange on 7th December 2021.

NOVAL PROPERTY