Announcement in the Context of Regulation EU 596/2014
Substantial Acquisition of a commercial real estate property (office building of 3,180,32 sqm in 266 Kifissias avenue in Chalandri)
Intercontinental International REIC (ICI), following its participation in a private tender procedure, on 29th October 2020, regarding the acquisition of a commercial property (office building of 3.180,32 sqm) located at 266 Kifissias Avenue, Chalandri and the partial lease- back of the building to its owner GlaxoSmithKline Single Member AEBE (the Transaction) and further to ICI’s announcement on 3rd March 2021, is proud to announce to its shareholders and the broader investment community that after meticulous negotiations the acquisition and partial lease back of the aforementioned property has been concluded the 3rd of June 2021. The consideration (€ 12.050.000) was fully paid and was financed partially (€ 8.109.000) by funds raised by a private placement under a bond loan facility with Eurobank and partially by cash available after another profitable year for ICI’s business.
To this end, ICI welcomes GlaxoSmithKline Single Member AEBE to its community of tenants, and remarks that with the addition of this landmark property the portfolio of ICI, not only increases in value by 12,6% in comparison to its value as of 31/12/2020 to € 107,51 mill, but most importantly it enhances in quality, as this is one of the very few unique office buildings in Greece.
Seizing the opportunity, the CEO of the Company Mr. Evangelos J. Kontos would like to emphasize on the fact that this acquisition is the first transaction of the recent growth strategy plan of ICI, unfolded progressively, despite COVID 19 pandemic. Referring to the demanding negotiations and technical work needed towards the conclusion of the current acquisition the CEO would like to express its gratitude, to the transaction team, namely: Mrs. E. Koutsiouki and Mr. N. Pouis from KPlegal Kitsaras & Partners law firm, Mr. G. Drettas from KION Architects, notary public Mr. T. Kariniotakis and Mrs. I. Stromatia ICI’s Asset Management Director.