Premia: Acquisition of 3 properties in Athens, Thessaloniki and Patras

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PREMIA PROPERTIES announced the signing of a preliminary agreement for the acquisition of two independent properties and the right of long-term exploitation of a third party.

According to the company in a relevant announcement, the properties operate as student dormitories, are located in Athens, Patras and Thessaloniki, have a total area of ​​7,764 sq.m., and consist of a total of 153 serviced apartments.

In particular, the property in Thessaloniki (at 10 Valaoritou Street) consists of 85 apartments, in Patras (city center) consists of 49 apartments and in Athens (Kypseli) of 19 apartments.

The total annual rental income is expected to amount to € 640 thousand with signed leases lasting 20 years.

With the activation of the above agreement, PREMIA PROPERIES will have 211 apartments aiming to create a portfolio of 1,000 apartments by 2026.

The Company intends to continue investing consistently and decisively in quality real estate in the field of serviced residential real estate with strong corporate tenants and long-term leases. The goal is to achieve high returns and goodwill for its shareholders as well as the management of investment risk by diversifying the portfolio by investing in another sector of real estate with excellent prospects.

Mr. Konstantinos Markazos, CEO of PREMIA PROPERTIES said: “We are happy that PREMIA PROPERTIES entered into the second transaction in 2021 in the sector of serviced apartments in three cities. Our vision is the development and operation of student housing in Greece. which operate successfully in many other European countries providing high quality housing services to the country’s students “.

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Source From: Capital

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