Lamda sells offices for 6.5 mln, focuses on Hellinikon

Lamda Development is continuing its policy of narrowing operations, selling a three storey office complex in northern Athens for 6.5 million euros, it said a statement.

Lamda, which is leading a group of investors on the Hellinikon complex, recently sold assets in Serbia to free up resources and concentrate on the Athens urban complex and shopping centers.

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Greek real estate investment company Trastor, majority owned by US investment fund Varde Partners, bought the offices called Kronos Business Center, that is located on 49 Aghiou Konstantinou street, Marousi. The total space covered by the business center reaches 4,715 square meters is fully leased, according to Trastor.

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Trastor financed the loan through money raised via last year's rights issue and bank lending, the company added