Trastor Property Investments has announced the sale of a standalone four-story office building located at 168 Kifissias Avenue and Sofokleous Street in Marousi. The property consists of office space totaling 2,228 square meters and underground storage and parking areas totaling 3,301 square meters.
The transaction was completed for a total consideration of €9.9 million.
Tassos Kazinos, CEO of Trastor Property Investments, stated:
“The completion of the transaction at a price 19.7% higher than the most recent valuation and approximately 28.2% higher than the property’s acquisition cost confirms our ability to create real value for our shareholders through the active management of our portfolio.
Following our recent investment of €38.6 million to acquire three properties in central Athens, this transaction reflects the effective implementation of our strategy and our ability, on the one hand, to invest capital in opportunities with strong value creation prospects, and, on the other hand, to actively recycle capital, creating added value and continuously upgrading the quality of our portfolio.
At the same time, the transaction highlights the intrinsic value of the company’s office portfolio and confirms the continued strong investment demand for high-quality offices in prime locations, which are a key pillar of our investment strategy. Driven by this momentum, we remain committed to the prudent deployment of our capital and the creation of long-term value for our shareholders.”