Domestic REICs expand investments in Attica based properties for their logistic portfolios
Domestic REICs expand investments in Attica based properties for their logistic portfolios

Domestic REICs expand investments in Attica based properties for their logistic portfolios

The sector is currently considered to be one of the strategic areas of development in the country.
RE+D magazine
06.12.2022

Domestic REICs are trying to expand their "footprint" in the industrial real estate sector and mainly in warehouses - logistics. The sector is currently considered to be one of the strategic areas of development in the country, taking into account Greece's geographic position.

BriQ Properties is active in the logistics sector and has recently acquired two plots of land with a total area of 11,060 sq.m. in Aspropyrgos Attica, which are adjacent to the Logistics Park that is being developed by the listed company "Imeros Topos".

As the company says, with the acquisition in question, it will own a single area with a total surface area of 114 acres, that is, a "fillet" area in which it is already developing two Storage and Distribution Buildings (SDA), of high standards, with a total area of 44,365 sq.m.

The total investment of the Company in said Logistics Park will amount to €30 million, while up to now a total amount of €20 million has been invested for the completion of the construction of the first KAD and the purchase of the land.

In the same "project" and Trastor REIC announced the acquisition of three plots of land with a total surface area of 21,046 sq.m., located at the "Melissia" location in Aspropyrgos Attica and adjacent to the company's existing logistics properties.

The total proceeds for the acquisition of all three plots amounted to €2,100,000.

At the same time, Premia Properties is also trying to get a larger stake in the warehouses market, which in recent years has continued its dynamic course by significantly strengthening its real estate portfolio in the field of logistics and big-box commercial real estate , while expanding its activity in the sector of serviced apartments.

Recently the REIC announced the purchase of an industrial building with a total area of 5,236 sq.m. on a plot of 6,480 sq.m., in Kryoneri Attica, for €2.1 million. The property is located at 114 Kryoneri Avenue and is leased in its entirety to Matsoukis Graphic Arts SA. until the year 2030.