Real estate investment company (REIC) Trastor has purchased a retail store on Voukourestiou street, central Athens, in a deal that pushed the company's property portfolio above 100 million euros.
Greek REICs have been in a sprint to buy prime assets, mostly in Athens, at bargain prices as the market shows growing signs of recovery after an eight year crisis that decimated the sector.
Trastor said that the latest acquisition cost 2.5 million euros and is located on the corner of 24 Voukourestiou street and 4 Valaoritou streets and is fully leased. It has a surface area of 138 square meters.
"Firstly, we incorporated in our portfolio a retail store at a unique location, in one of the most commercial streets of Athens," said Trastor chief executive Tassos Kazinos. "Secondly, because of this acquisition Trastor's gross asset value (GAV) exceeded the 100 million euro target, as per the company’s investment plan," he added.