Grivalia Properties REIC
117, Kifisias Avenue & Agiou Konstadinou Street
151 24, Maroussi Athens-Greece
Tel: (+30) 210 8129 600
Fax:(+30) 210 8129 670
VAT n. GR094048855
General
Comm.Registry 000239101000 Reg. act 11/352/21.9.2005
Maroussi, October 18th, 2017
Press Release
Completion of acquisition of a sixteen properties portfolio
GRIVALIA PROPERTIES REIC (the "Company") announces it has officially completed today the acquisition of a portfolio of fifteen retail assets (supermarkets) and one land plot for which it was declared as the preferred bidder in a Public Auction. The total built area of the portfolio is 48,477sqm; seven units are located in Athens, two in Thessaloniki, one in each of Rethymno, Veria, Xanthi, Rhodes & Trikala, and one unit together with an additional land plot in Agrinio. The transaction involves the acquisition of 100% of the properties except for one unit in Kolonaki (50.00% indivisible ownership) and one in Egaleo (43.75% indivisible ownership).
More specifically, the auction was held on 10th February, 2017 and comprised the total assets of "ZENON PROPERTIES SA", a company under special liquidation.
The total price offered for the acquisition of the portfolio was € 16.25mn. The portfolio is currently leased to Sklavenitis Group. It is noted that the Company had acquired the subject property portfolio in December 2002 for approximately €60mn and disposed it in November 2005 for approximately € 69mn.
Grivalia Properties REIC published this content on 18 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 October 2017 15:25:06 UTC.
Original documenthttp://grivalia.com/wp-content/uploads/2017/10/20171018PressReleaseEngZenon.pdf
Public permalinkhttp://www.publicnow.com/view/3CD5C0528440CBEA3ABD34580BA2DDD711D657FA