The total surface area is 54,000 sq.m. with total leasable area of 18,500 sq.m. on a land plot of 10,600 sq.m.
The property along with all fixed and mobile equipment,
active lease agreements, administrative & operating licenses and commercial signs, were
transferred to the company PRIMALAFT ATHENS S.A. (100% subsidiary of PREMIA), for a
consideration of €15.7 million.
The consideration and liquidation proceeds of the remaining assets that were not transferred to PRIMALAFT and remained with DORECO, will be used to settle the latter's obligations, as these are outlined according to the rehabilitation agreement.
PRIMALAFT starts its operation with no bank loans or any debt to the Greek State, to
insurance funds or third parties, ensuring a smooth continuance of the property’s current
operations.
PREMIA PROPERTIES would like to thank the legal firm Serafim Sotiriadis & Associates and
Deloitte which acted as financial advisor for the transaction.
