PREMIA PROPERTIES acquires logistics property in Aspropyrgos
PREMIA PROPERTIES today announces the acquisition of a logistics property located in Aspropyrgos (Lakka area), Attica.
The building is leased to the company DIAKINISIS SA through long-term lease which expires in 2029.
The property consists of a 9,443 sq.m. warehouse building situated on a 22,995 sq.m. parcel, leased to DIAKINISIS SA company through a longterm lease expiring in 2029.
The acquisition price amounted to € 5 million with a gross initial yield of 8.2%. The Company intends to continue actively pursuing investing in quality properties of the supply chain in the logisticsindustry, which feature healthy tenants and long-term leases, with the aim to render high returns and added value to its shareholders. With this property’s addition, PREMIA PROPERTIES currently holds a portfolio that includes logistics properties of a 103,000 sq.m. total area.
The Company intends to have doubled the logistics properties’ total area by the end of 2021 and reach 200,000 sq.m., thus reaffirming its leading position in the Greek market. PREMIA PROPERTIES relentlessly also implements its business plan in the other real estate sectors that form part of the corporate strategy, namely commercial big-box buildings and public-use buildings. In this light, the Company's Management intends to promptly initiate a new share capital increase with contributions both in cash and in kind (real estate contributions) from current shareholders and third-party investors.