ICI books 50 pct profit from apartments bought seven months ago
Real estate investment company Intercontinental International (ICI) said on Wednesday it sold two apartments in central Athens for 575,000 euros, booking a profit of more than 50 percent from an investment made seven months ago.
The apartments have a total area of 223.80 square meters and are located on the 4th and 5th floor of a multi-storey building on 4 Pindarou Street (Municipality of Athens), ICI said in a statement.
“This action is part of our strategy for active management of our portfolio. The decision was based purely on financial criteria, as the IRR of the investment exceeded 50%,” said chief executive Marios Apostolinas.