Lamda Development acquires Orilina's SPV comprising land located in Thessaloniki
Lamda Development acquires Orilina's SPV comprising land located in Thessaloniki
  Listed  |  REIC  |  Industrial / Warehousing  |  Thessaloniki

Lamda Development acquires Orilina's SPV comprising land located in Thessaloniki

The Company participates with a 20% stake in the SPV, with ORILINA PROPERTIES holding the remaining 80%.
Share Copy Link
RE+D magazine
28.06.2022
LAMDA DEVELOPMENT S.A., in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, announces that together with ORILINA PROPERTIES REIC acquired LIMAR S.A., an SPV that owns land plots of 72,121 sqm, strategically located next to the Mediterranean Cosmos Shopping Center, in eastern Thessaloniki.

The Company participates with a 20% stake in the SPV, with ORILINA PROPERTIES holding the remaining 80%.

ORILINA PROPERTIES and the Company will jointly develop the main plot of 61,415 sqm, with a view to maximize synergies with Mediterranean Cosmos as well as further enhance the area’s excellent prospects.

The remaining plots of c.10,700 sqm will be sold by LIMAR S.A. to ORILINA PROPERTIES.

The Company’s share of the acquisition price amounts to c.€1.5m.

LAMDA DEVELOPMENT θΕΣΣΑΛΟΝΙΚΗ ORILINA