Arbitrage Real Estate negotiated on behalf of NBG Pangaea REIC and concluded the purchase of a listed and landmark commercial real estate asset in the heart of the Athenian center.
The commercial property is a listed building, of a total area of 1,086m², located at the corner of Solonos and Kanari streets at the prime district of Kolonaki in the very center of Athens. It is a multi tenant high-street building, fully leased to a well-known fashion and contemporary F&B retailers.
Arbitrage RE introduced the property to the investor and was assigned the exclusive professional representation. It also acted as its principal advisor in the deal. Arbitrage RE provided commercial, valuation and technical consulting services, coordinated technical licensing and permitting issues and oversaw the negotiation of the related SPA contracts.
The acquisition of the property was announced by NBG Pangaea REIC on 8 March 2018 and the acquisition price amounted to €3.75mn. See related press release here.