Premia Properties inks strategic cooperation with Doukas Schools
This cooperation marks the initiation of a new strategic investment collaboration between the two parties in the sector of education.
PREMIA PROPERTIES announced the signing of a strategic cooperation with Doukas Schools according to which, PREMIA will acquire the school premises in Marousi-Attika along with a long-term fifteen-years leasing agreement providing the right to repurchase and continue to operate Doukas Schools.
Properties that are included in the schools’ facilities are athletic and cultural premises with a
total surface area of 23,114 sq.m. on a land plot of 26,606 sq.m.
The initial investment price for PREMIA amounts to € 20 million. Part of this cooperation is to assess improvements and environmental upgrading of the existing properties and its infrastructure in the coming years. Doing so the schools’ vision and targets are strengthened as it will focus seamlessly on its educational plans and the further development of its educational system.
This cooperation marks the initiation of a new strategic investment collaboration between the
two parties in the sector of education.
PREMIA would like to thank “DBC Diadikasia S.A.” that operated as its financial advisor for the completion of this transaction.
Mr. Elias Georgiadis, Chairman of PREMIA PROPERTIES & CEO of STERNER STENHUS Holding made the following statement: “I am very pleased to cooperate with Doukas Schools a significant educational institution in Greece. Through this collaboration we explore possibilities for new investments in the sector of education.
This transaction is aligned with the Company’s implementation of its investment plan to strategically invest in social infrastructure assets that was initially initiated with a PPP agreement, for the management of 10 school units throughout Attica. It also gives us the opportunity to provide our expertise from similar investments that Sterner-Stenhus has completed in Sweden”.
Mr. Konstantinos Doukas, CEO of Doukas Schools stated: “We are happy of this new collaboration with PREMIA Properties, one of the fastest growing companies in the real estate investment sector in Greece.
Despite numerous offers for cooperation in the sector of private education, Premia chose Doukas Schools believing in the school principles that have been adopted for 105 years while fully entrusting the school’s management and its vision for the future. Through this cooperation, we create conditions for further development in the field of education.”
Mr. Konstantinos Markazos, CEO of PREMIA PROPERTIES stated: “PREMIA continues to implement its investment plan with prudently chosen real estate assets in strategically selected sectors of interest such as education.
The long-term lease agreement with a healthy
and growing company like Doukas Schools enriches our portfolio with high quality properties
while developing partnership with an important player in the field of private education”.