Trastor: The 2025 Investment Plan and the Goal of a €1 Billion Portfolio

Aiming for a dispersion rate of 15%, Taso Kazinos, the managing director of Trastor, announced during yesterday’s (March 28, 2025) general meeting that the Share Capital Increase (SCI) worth €120 million will be completed by the end of July. Concurrently, Trastor REIT continues to target investments in green offices and logistics in prime areas, aiming for a portfolio valued at €1 billion. In 2024, as Mr. Kazinos emphasized, Trastor became the most active player among real estate investment companies, with total investments of €154.4 million in new property acquisitions and an additional €20.3 million for new developments and upgrades of existing buildings. By the end of 2024, the investment portfolio grew to 62 properties with a total reasonable value of €670.5 million, increasing by 43% from €468.7 million at the end of 2023. Our investment strategy focuses on quality properties and targeted locations, emphasizing commercial properties and offices, which constitute 75% of our portfolio. We invest in high-quality buildings in premium locations and large unified properties that allow us better lease management. Additionally, we emphasize green investments, where full ownership of properties is crucial for long-term growth and sustainable returns. The company has a significant presence in green office spaces in Marousi and downtown Athens with strong tenants. Notably, it has completed renovations of the building formerly occupied by Bayern and Fourlis Group, leasing it to Hellas Direct, Mercuria Energy Group, and Protergia. Another building at the intersection of Xeimarras and Amarousiou-Halandriou streets in Marousi has been leased to OpenBet, while 60% remains available for rent. Trastor also holds an extensive property portfolio in central Athens, including a heritage building at Herakleiton 7 in Kolonaki with a total area of 1,681 sqm, which will be converted into a modern office building with green certification. Simultaneously, renovations are underway for the building at Vasilissis Sofias Avenue 94, where the Independent Power Transmission Operator (IPTO) will be the tenant, transforming it into a modern, sustainable office complex according to LEED standards. The capital increase process for Trastor is scheduled to be completed by the end of July, coinciding with the announcement of the semi-annual financial results. After Easter, the company will conduct a roadshow for Greek institutional investors to assess market dynamics. An information memorandum is expected to be filed in May, followed by the review process by the Capital Market Commission. Regarding portfolio development, Trastor currently holds properties valued at €670 million. The acquisition of a large logistics center in Greece, spanning 75,000 sqm and leased to Sklavenitis, is ongoing. Valued up to €85 million, the transaction is expected to close by year-end, with part of the funding coming from the upcoming capital increase. Adding this property will bring the total portfolio value close to €800 million. With additional leverage of €120 million, Trastor estimates its total investments will exceed €1 billion by 2026. For the capital increase financing, participation from Piraeus Bank is anticipated to cover 50% of the required amount, approximately €60 million, with the remainder sought from Greek institutional investors and individuals. Moreover, Trastor plans to distribute dividends to shareholders, with an estimated yield of €0.03 per share.