GRIVALIA PROPERTIES R.E.I.C.
Acquisition of a retail property in the center of Kiev, Ukraine for a total of USD 8.6 million.
In line with the Company's investment strategy to further expand its investment portfolio, Eurobank Properties Real Estate Investment Company (the "Company"), on March 15th, 2008, acquired a retail property located in 66-68, Chevonoarmiyska str., Kiev, Ukraine, for a total of USD 8.6 million and a total area of 543.1 sqm. The property will be leased to Universal Bank, member of the Eurobank EFG Group.
The market value is approximately USD 9.0 million as valued by the Body of Charted Valuers (SOE).
According to Mr. Aristotelis Karytinos, Executive Member of the BoD and member of the Investment Committee of the Company, "the present investment of USD 8.6 million has been 100% financed with part of the funds that were raised in the share capital increase of the Company which took place during December 2007".
The acquisition of the property is in line with the Company's investment strategy for future growth through selective acquisitions of office, retail, logistics and industrial spaces in prime locations, taking into consideration the prevailing market conditions.
The market value is approximately USD 9.0 million as valued by the Body of Charted Valuers (SOE).
According to Mr. Aristotelis Karytinos, Executive Member of the BoD and member of the Investment Committee of the Company, "the present investment of USD 8.6 million has been 100% financed with part of the funds that were raised in the share capital increase of the Company which took place during December 2007".
The acquisition of the property is in line with the Company's investment strategy for future growth through selective acquisitions of office, retail, logistics and industrial spaces in prime locations, taking into consideration the prevailing market conditions.