Premia Properties signs 10.2 mln euro Piraeus apartment deal

Premia Properties has announced the signing of a preliminary agreement for the acquisition of a stand-alone property of serviced apartments located in Piraeus (Agios Dionysios area) for 10.2 million euros.

The property comprises of 58 fully furnished apartments with total surface area of 3,600 sq. m. and is leased to a well-known international company through a long-term lease, in an agreement expiring 2034.

The above transaction constitutes the first in a series of planned transactions within the framework of the relevant strategic framework agreement, signed today by Premia Properties and Dimand S.A, the company said in a statement.

With the activation of the above-mentioned agreement as well as with the implementation of the general investment plan, the company intends to own a portfolio of similar properties with a total capacity of 1,000 apartments by the end of 2026.

At the same time, having recently completed a successful share capital hike, Premia Properties continues the implementation of its business plan in the other real estate sectors which remain key to its investment strategy i.e., logistics centers, commercial buildings (big-box) and social real estate.

The Chairman of the Board of Directors of Premia Properties and main shareholder of Sterner Stenhus, Mr. Elias Georgiadis, said: “I am very pleased with this initial transaction, following the share capital increase that was recently completed, and the acquisition of serviced apartments, which is a new growth sector of the Company. I would like to personally thank Dimitris Andriopoulos for the commencement of this close cooperation”

The CEO of Dimand S.A., Mr. Dimitris Andriopoulos, made the following statement: “The satisfaction for the commencement of our cooperation with Premia Properties, is mutual. We share a common vision for the development prospects of Piraeus and for the need to create and modernize the residential and professional infrastructure of the city. In the coming years our partnership with Premia will be further strengthened with an emphasis on residential development, social housing and other real estate sectors."