Grivalia closes 2 property deals in Athens

property Greece

Grivalia Properties, the real estate arm of Eurobank, has bought into two new commercial property assets in Athens for a total of 18.5 million euros, the company said in a statement.

Grivalia purchased a 50% stake of a mixed use multi storey building at 340 Syngrou Avenue in the area of Kalithea for 13.2 million euros. It has a total area of approximately 31,100sqm, of which 13,950sqm are office & retail areas and 17,150sqm comprise of 400 parking spaces on four underground levels and other auxiliary areas.

The second deal relates to a stake in a property at 49 Kifissias Avenue in Maroussi., northern Athens for 5.3 million euros.

It consists of horizontal properties – ground floor retail units with a total area of 1,116sqm, plus 1,300sqm of underground main and auxiliary use areas, 5,734sqm of 503 parking spaces and additional common areas on two underground levels.

Both assets are partially leased to German retailer Media Markt.

Grivalia is one of Greece’s leading real estate companies and is majority owned by Toronto based Fairfax Financial Holdings