The special purpose company (SPV) LIMAR SA which owns plots of total area 72,121 sq.m. acquired by LAMDA DEVELOPMENT SA together with ORILINA PROPERTIES AEEAP.
The plots are strategically located next to the Mediterranean Cosmos shopping center, in eastern Thessaloniki, as mentioned in the relevant announcement.
LAMDA holds a 20% stake in SPV while ORILINA PROPERTIES owns
balance 80%.
ORILINA PROPERTIES and LAMDA will jointly develop the main plot of 61,415 sq.m., with the aim of maximizing synergies with the Mediterranean Cosmos shopping center and further enhancing the excellent prospects of the area.
The remaining plots of approximately 10,700 sq.m. will be sold by LIMAR SA to ORILINA PROPERTIES.
The proportionate share of the Company in the amount of the acquisition transaction amounts to approximately € 1.5m.
Source: Capital
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