Eurobank Properties R.E.I.C. has announced its acquisition of 14 properties from the Hellenic Republic Asset Development Fund. The bank will lease the buildings, which include various ministries, back to the Hellenic Republic for 20 years, it said May 12.
The total surface of the properties is approximately 189,000 sqm, of which 136,000 sqm is above ground and 53,000 sqm is basement space. Among the portfolio are the following buildings:
- Ministry of Education and Religious Affairs, at 37 A. Papandreou Street, Maroussi,
- Ministry of Health at 39 Kifissias Avenue, Maroussi.
- Ministry of Justice, Transparency and Human Rights at 96 Mesogeion Avenue, Athens.
- Athens Police Headquarters at 173 Alexandras Avenue, Athens.
The remaining assets in the portfolio are in central locations in Athens and other large cities. The acquisition price of the portfolio was €145.81m and the annual rental income is just over €14 million.