Premia Properties targets 10 new properties – At 100 million the amount of the investment

of Eleni Botas

At least 10 properties, ready or under development, are in the sights of Premia, with a total value of over 100 million euros, while according to the CEO of the company Kon. Markazo is open to the possibility of achieving earlier the goal of increasing the value of the company’s portfolio to 500 million euros.

As he stated at the Ordinary General Meeting of shareholders, within the next few days he will announce the acquisition of another storage space of modern specifications in a place with high demand.

In relation to the course of the market, Mr. Markazos stated that the situation “at the moment, both internationally and in Greece, is very difficult for the stock exchanges and for the bonds and for the real estate.

“There is an inflation that we have not experienced in recent years, there is a prospect of rising interest rates, falling stocks and bonds and possible pressure on companies’ valuations.”

According to him, there is a high demand for logistics and “green offices”, however, as he said, the yields are declining, such as in the warehouses where it used to be at 10% and now they have fallen to 7%.

According to Mr. Markazos, the company has been shielded as “we have a dispersion of employees, a low leverage rate of 37.4% and a weighted average loan term of 7.1 years and a cash flow of 87 million at the end of 2021”.

The CEO of Premia referred to the recent agreement for the acquisition of the facilities of Douka Schools, which has been completed and the first works for the energy upgrade of the buildings are already underway, while as he stated “we would be interested in following the model of this agreement and with other schools and educational institutions “.

Regarding the agreement for the real estate of Boutari Winery, a court decision is pending for the consolidation plan, which is expected to be issued in July or September at the latest.