Premia unveils new investments in logistics projects
Premia unveils new investments in logistics projects
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Premia unveils new investments in logistics projects

RE+D magazine

Premia Properties insists on the "philosophy" accoridng to which not adjustments will be adopted in the investment plan despite the negative international developments (rising inflation, geopolitical concern, etc.).

As stated during the Ordinary General Meeting by the head of the company Konstantinos Markazos commenting on the results of 2021 "this has been a landmark year for the company that reached a portfolio that comprises 27 properties with a total investment of close to € 200 million and EBITDA at € 10.8 million"

Commenting on the international developments both in the geopolitical part and in the "accuracy" brought by the high inflation, Mr. Markazos underlined that "the market internationally but also in Greece is very difficult. There is a very high inflation that we have not experienced again but also an impending rise in interest rates along with falling stocks and bonds that put strong pressure on company valuations. We will continue with our investment plan does not change anything. "Premia has been heavily shielded."

According to Mr. Markazos the company has a "very strong portfolio" with a significant dispersion of employees as well as financially fundamental (6.5 years average lease term, low leverage rate, weighted average loan term 7.1 years, cash on hand, etc.) that allow it to continue its investments smoothly.

"The categories that we will invest are the same as we have said in the past, we have a good position in Logistics, while very soon we will announce a new deal in the industry in about 10 to 15 days at the latest. The industry is evolving with new features with "Warehouses are taller and more sustainable. We are also looking at 'green' offices, exceptionally in an industry where we are not active. But only those that have LEED features and that match sustainability," he said.

Boutari and Doukas deals

Mr. Markazos referred also to the last two significant deals that Premia inked recently. The projects of Boutari and Doukas Schools which, as he said, "are multi-month projects with the amount of investments ranging from 100 to 150 million". He clarified that in both agreements the company is clearly involved in the real estate part and not in the tenant business part. "In the case of Boutari, we are waiting for a court decision that will probably come out in July or September with a consolidation plan and we believe that the company will already be able to play a leading role in this sector and we are making a viable and original investment." Premia is also focusing on alternative investments in which it seems to have more capacity.

no dividend will be distributed for the year 2021

Finally, regarding the dividends distribution policy, Mr. Markazos underlined that as he had mentioned in the past, the company will distribute no dividend for the year 2021 but will distribute in 2023 50% of the profits of the year 2022. "The dividend "Our policy is clear. From 2023 it will be the one we are committed to today," he said.