TECHNIKI OLYMPIAKI holds a 50% equity stake in QUARTIER GRÜNER WEG GmbH, a German entity, via its wholly owned subsidiary, T.O. INTERNATIONAL HOLDING Ltd. The remaining 50% is owned by Konstantin Vermögensverwaltung GmbH.
The subject office property is located in close proximity to Frankfurt Airport and comprises a total of 12,428.16 square meters of leasable office space, 1,550.00 square meters of ancillary warehouse space, and 16,950 square meters of parking garage facilities. The company intends to undertake a comprehensive renovation and redevelopment of the asset, converting it into a residential building featuring studio apartments ranging in size from 22 square meters to approximately 40 square meters.
The agreed purchase price for the property is €15,000,000.
A portion of the acquisition cost will be financed through bank debt, with the remainder to be funded via equity contributions.
