PREMIA Properties REIC announced that on 3.12.2024 the company Renti to Go Single Member S.A. (“Buyer”) acquired 100% of the shares of Trivillage Developments Greece Single Member S.A. (“Trivillage”), which owns and operates the shopping center “Village Shopping & More” located at Renti, Athens(«Property»), for the amount of € 14.1 million.
The buyer is a joint venture comprised of private investors to which the following parties participate: Mr. Elias Georgiadis (via Sterner Stenhus Greece), the Antetokounmpo family, Premia Properties (via a subsidiary), Mr. Yiorgos Panou, Mr. Giannis Konstantinou (USA resident) and Mr. Alex Papaconstantinou (resident of Sweden).
The Property has a gross building area of 49.000 sq.m. on a land plot of 36.000 sq.m. and currently operates as an entertainment park with anchor tenant the “Village Cinema”.
This business decision by Giannis Antetokounmpo and Elias Georgiadis has as key goal to upgrade the well-known complex and create an exemplary sports and entertainment center and a meeting point for families with children and a younger crowd.
The property remains in good condition but will be upgraded shortly.
Premia thanked EUROBANK for its support and for financing this project, as well as CBRE-Atria for its coordination of the transaction in its official press release.
Giannis Antetokounmpo stated: "I am investing with my family and in collaboration with Elias Georgiadis in the area of Athens where my siblings and I spent our childhood. This is one of the most important investment we have made in Greece so far. Our vision is to upgrade the venue, offering unforgettable moments to the all visitors and their families, as well as to implement our broader plans for further development in the athletics area."
Thanassis Antetokounmpo stated: "More specifically, this business decision not only aims to further develop athletics, but also holds an emotional vibe as we have very special memories from our childhood."
Elias Georgiadis, Sterner Stenhus General Manager and Premia Properties Chairman of the BoD,stated: "We are happy to expand our partnership with the Antetokounmpo family in the sector of real estate with this significant property as is the Village Cinemas in Renti, and also welcome the participation of new private investors. With the vision of Giannis and Thanasis Premia R.E.I.C. 59, Vas. Sofias Avenue, GR 115 21 Athens, Greece HCMC License No 4/949/5.4.2022, GCR No: 861301000, www.premia.gr and our own expertise in the real estate industry, we will revive this well-known location and transform it into an entertainment sports park." Kostas Markazos, Premia Properties CEO stated: “This transaction represents another strategic collaboration between Premia and distinguished partners that will enhance the size and diversification of our portfolio as well as the company’s revenues.”
