Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Trastor Real Estate Investment Company SA has completed the sale of an underground parking property in Maroussi, Greece, for EUR 4.1 million. The transaction was completed at a price that is 18.8% higher than the property's latest independent valuation, reflecting strong investor demand for well-located income-generating real estate assets. The sale forms part of the company's ongoing portfolio management strategy, under which it regularly reviews and monetises mature assets while strengthening its investment portfolio across the Greek real estate market.
Trastor Real Estate Investment Company SA has sold an underground parking property located in Maroussi, Greece, for EUR 4.1 million, according to a company update released recently.
The company said the asset was sold at a price that was 18.8% higher than its most recent independent valuation, indicating a strong premium over the property's assessed market value.
Maroussi, one of the key commercial districts in the northern part of Athens, continues to attract investment due to its concentration of office buildings, retail developments and corporate headquarters. Parking facilities in the area remain important commercial assets because of sustained demand from businesses and commuters.
The transaction is part of Trastor's ongoing asset management strategy, under which the real estate investment company periodically reviews its portfolio and disposes of selected properties to unlock value and improve capital allocation. Such sales also provide additional liquidity that can be used for new investments and portfolio optimisation.
Trastor has been actively expanding and reshaping its real estate portfolio in recent years, with investments across office, logistics, retail and other commercial property segments in Greece. The company has continued to focus on acquiring high-quality income-generating assets while divesting properties that align with its long-term investment strategy.
The latest disposal highlights continued investor interest in well-located commercial real estate assets despite changing market conditions and demonstrates the premium that strategically located properties can command.
Source Reuters
Advertisement
Facebook
Whatsapp
