Intercontinental International REIC announces the acquisition of six (6) horizontal properties, retail and service spaces, on Volos, Regional Unit of Magnesia. It is a building totaling 1.032,02 sqm situated on a land plot of 198.28 sqm, on the junction of 18 El. Venizelou Str. & Ermou. The anchor tenant is “B & F” which is one of the biggest women fashion trading companies in Greece and is the owner of “BSB” and “Lynne” brands. The duration of the lease is 20 years and the tenant pre-paid the first year rents.
The gross yield of the investment is 8%.