ECONOMY

Property deals top €400 million

property-deals-top-e400-million

Investment in the acquisition or development of commercial property has topped €400 million in the first eight months of the year.

Just one property firm, Prodea Investments, has spent €71 million on property deals, including €39 million on the acquisition of Lamda Development’s office building in the northern Athens suburb of Maroussi.

Prodea has also acquired two logistics hubs in Aspropyrgos, west of Athens, for €12.5 million, as well as a portion of the Elliniko property development site, for €4.4 million, where it will build luxury homes.

One of the biggest property deals was the €28.5 million acquisition of the former Kodak offices, also in Maroussi, by Noval Properties, of the Viohalco Group, in partnership with investment fund Brook Lane Capital.