Specifically, the final number of properties will amount to 39, according to an announcement by the REIC, with a total value of approximately €579.4 million. Most of these properties have already been transferred to MILORA, the Special Purpose Vehicle (SPV) through which the transaction will be executed.
Until the end of the previous fiscal year, MILORA held only one commercial property in Kallithea, Attica, with a total area of approximately 2,000 sqm and a fair value of €1.877 million, which was fully leased. During the summer, the company acquired 31 properties from its parent company Prodea Investments for a consideration of €332.482 million, as well as one property from DEIGMA INVESTMENTS Ltd. for €14.748 million.
It should be noted that the initial agreement between the Prodea Group and Aktor, signed on October 29, 2024, envisaged the sale of a portfolio comprising 56 properties with a total value of approximately €594 million. These include offices, retail stores, and other commercial uses located in Greece, Italy, Cyprus, and Bulgaria, generating annual rental income of approximately €41.5 million.
The original deadline for the transaction’s completion was May 31, 2025. However, due to the complexity of the process, the agreement was extended until September 25, 2025, subject to the fulfillment of contractual and regulatory conditions and the signing of the final legal documents.
The completion of the agreement is expected to have significant implications for Prodea’s balance sheet, reducing its overall debt and restructuring its portfolio. Prodea plans to utilize the proceeds from the transaction to support its investments, focusing on sectors such as “green” office spaces and logistics.
