DEAL: Pangaea buys bundle of 23 properties in Cyprus, Athens
Pangaea real estate investment company has purchased from Bank of Cyprus a bundle of 23 properties located on the island state and in Athens in a deal worth 149 million euros.
Pangaea, the real estate arm of National Bank of Greece, said that it purchased CYREIT Variable Investment Company that owns a portfolio of 21 commercial properties (offices, retail, big boxes, hotels) in Cyprus from the Cypriot lender, it said in a statement. The properties have a total gross surface area of more than 120,000 square meters in Nicosia, Limassol, Larnaca and Paphos. CYREIT's investment shares are listed on the Cyprus Stock Exchange.
The deal also involves the acquisitio of two properties in Athens: one with a total surface of some 6,900 square meters facing Syggrou Avenue and Lagoumitzi street and the other with a total area of about 2,000 square meters facing Evridamantos and Lagoumitzi streets.