Arbitrage is happy to announce the transaction of a 15,000sqm semi-completed logistics warehouse on a 37 acres of land in Aspropyrgos industrial area. The asset was acquired a few weeks ago by a locally active investment fund in real estate special situations and credit strategies.
Arbitrage acted as the investor’s (buy-side) broker and also its technical advisor. After an initial market research in collaboration with a local agency, we located this property, presented it to the investor, advised him on rental prices, ran the negotiations with the sellers until the final price was agreed. We then oversaw the signing of a notarized preliminary agreement and at the same time undertook a thorough technical due diligence focusing on the planning and structural aspects needed to be settled for the transaction to close. The investor is expected to complete the industrial installation and upgrade the facilities revising the old license.
This transaction demonstrates that the interest remains strong in well located urban logistics assets.
