Trastor REIC on Thursday announced the purchase of a real estate asset in Halandri, Attica, for 4.0 million euros.

The price for the acquisition of the property amounted to €4.28millionn.

The Transaction must be completed by March 29, 2019 (Long Stop Date) or at a later date if agreed in writing between the parties.

The merger is capital and earnings accretive; fully loaded CET1 increases to 13.8 pct and pre-provision income to 0.28 euros per share.

The total surface area of the property is 1,600.06sq.m.

The acquisition price offered by the Company is €1,070,000.

The building has a total surface of 1,629.30 sq.m. and it comprises of a basement, ground floor and six above-ground floors.

The Company will be a joint venture with the share participation of Grivalia in order to refurbish the existing building and upgrade it.

Grivalia has already agreed to acquire the remaining 51% of PPP3 following the completion of the asset’s redevelopment.

BriQ Properties acquired the property at a total price of € 625,000.