ICI takes step toward 140-mln-euro portfolio

Real estate investment company (REIC) Intercontinental International (ICI) has acquired a two storey retail building in Pikermi, east of Athens, for 8 million euros, as part of its expansion drive.

The surface of the building (leased to a large supermarket chain) is 4,408.32 sq.m. which also makes use of surrounding parking area that has been acquired. The total surface of the three land plots making up the property is 5,663.58 sq.m.

As of June, the gross asset value of ICI's investment portfolio had risen to 107.5 million euros, from 95.4 million euros at the end of last year. The figure is expected to rise to about 140 million euros by the end of 2021.