Eurobank Properties REIC acquires two Maroussi retail assets

Greece's Eurobank Properties Real Estate Investment Company (Eurobank REIC) has expanded its investment portfolio with the acquisition of two retail properties located in Kifisias Avenue. The entry yield of the investment is calculated at 6%.

The first property of 1,221.51 m² was purchased for approximately EUR 7 mln and is leased to office and home furniture company SATO S.A. and operates show rooms for furniture brands Bo Concept & La Maison Coloniale. The second property of 2,189.76 m² is also leased to SATO as well as providing the company with a showroom. Purchase price was approximately EUR 9 mln.

Georgios Chryssikos, investment manager at Eurobank REIC commented on the acquisition, 'The present investment of EUR 16 million has been 100% financed with part of the funds that were raised in the SCI of the Company (Eurobank REIC) which took place during December 2007.'