Two tenders for the sale of two complexes real estate “runs” within October n doValue Greece Real Estateanticipating the attraction high investment interest due to the commercial value of the properties being put up for sale. As a minimum price by doValue, the threshold of 65 million euros has been set in case there is one investor for all four properties included in the package for sale, while the process is also open for individual offers from separate investors. The properties have come to the company consensually after an agreement with the debtor and come from securitized loans of the portfolios Cairo and Frontier.
THE first competition concerns a building complex located on Drafiou and Anthousas avenues Municipality of Pallini and consists of two separate and independent buildings for commercial (building 1) and exhibition (building 2) use on a plot of land with a total area of 44,188 square meters. THE second competition concerns a property located at 580 Vouliagmenis Avenue in Municipality of Argyroupoli and a second one located on Leontos Street within the Municipality of Hellinikon – Argyroupoli.
In the first case, the two independent buildings extend over a plot of 44,188 square meters and their current use as a supermarket (leased by Praktiker), exhibition center (hosting the Emporium Plaza) and supermarket discounts the high investment interest as it ensures cash flows from rents. Specifically, as described in the information received by the investors, the first building complex has a total area of 32,235 sq.m., consists of two separate sections – the first is leased as a hypermarket and the second is used as an exhibition center – from basement and ground floor and extends on a plot of 44,188 sq.m. Accordingly, building 2 – used as a supermarket – consists of a ground floor and a mezzanine level and has an area of 1,986 sq.m. Each building has independent access and outdoor parking spaces.
The properties have come to the company consensually after an agreement with the debtor and come from securitized loans of the Cairo and Frontier portfolios.
The “package” includes a second property on a plot of 36,107.85 sq.m. located within a defined urban zone. This is a property located in the area “Ano Trigono” or “Agios Athanasios” in the community of Anthousa Attica, part of the Municipality of Pallini. The area is mainly characterized by undeveloped lots and residential buildings and the approved use for the area is exclusively residential (pure residential).
The complex for sale on Vouliagmenis Avenue consists of two buildings with a total area of 11,678.65 sq.m., a plot of land of 7,221 sq.m. and has facades along Vouliagmeni, Eleftheria and Megalo Alexandrou streets. The space, as stated in the prospectus, offers flexibility and efficiency, including garages, car showrooms, office space and covered parking. The building complex is developed over six levels and includes an income producing property that can be considered an excellent redevelopment project for a modern and energy efficient office space.
The building complex on Leotons Street in the Municipality of Hellinikon – Argyroupoli is divided into two parts, it is a mixed use 27,312 sq.m. and is located on a plot of 12,070 sq.m. The building consists of three basements, a ground floor and three additional floors.
