The real estate investment firm is expanding its presence on the island.

The offering is expected to be finalized by mid July.

The purpose of TRADE ESTATES REIC is to invest purely in large retail(big boxes).

The Coordinators and Bookrunners of the Public Offer for the Issue of a Common Bond Loan and the admission of the bonds of the company “Prodea Real Estate” announce, that 300,000 dematerialised common, bearer bonds of the Company with a nominal value of €1,000 each have been placed.

Lamda Development S.A. announced a pivotal agreement with Piraeus Bank S.A., the first since the transfer of Hellinikon S.A. shares from the Greek state to Lamda Development.

The price for the acquisition of 80% of the company's shares amounted to € 23,6 million.

With this acquisition the Company currently owns the entire 2nd, 3rd, 4th, and 5th floors.

The areas are part of a standalone office building that was acquired from the Company in November 2018.

Net returns were reported between 5.25% to 6.50% and gross returns between 5.75% to 7%.

The total reduction on Group's revenues of 2020 from rents due to the Covid-19 pandemic amounted to € 954.000.