The largest transaction in terms of economic value between SNEAPs that have been made to date was officially signed yesterday (21.11.2024), having as its protagonists and . The second largest deal has been made between Intercontinental International and BriQ Properties, which is even expected to be completed at the end of December. The largest SNEAP that is none other than Prodea went on to sell another strong real estate portfolio, this time to Trastor, as part of its strategy to focus only on hotels and green properties. It is a deal of almost EUR 70 million, which includes important properties – fillets, which are leased and have significant revenue. The company run by Tassos Casino proceeded to this move as it wanted to expand its portfolio and increase its earnings even more. At the same time, Trastor makes an effort to keep her shares on the Stock Exchange dashboard. The priority is therefore the increase in share capital estimated to reach EUR 150 million and to be carried out from the new year in order to increase its share capital and to harmonize with the requirements of the Stock Exchange where, under the new regulation, the spread must exceed 15% of the total share capital. Trastor therefore proceeded to acquire three important office buildings, strengthening its portfolio with high quality and long-term performance properties. The first property is an office building with a total surface area of 19,744 sq.m., located on Amarousi – Chalandriiou Street 18 – 20, in Maroussi. The building is leased to the multinational software development holding company Viva Wallet and has sustainability certification according to the BREEAM standard, confirming its environmental value. The price for its purchase was EUR 33,35 million. The second property concerns a 7,115 sq.m. office building, located on the National Resistance 72 road, in Halandri. The building is leased to the European Union Agency for Cybersecurity (ENISA), ensuring constant revenue through the lease. The value of the transaction was EUR 20,37 million. The third property is an office building of a total area of 17,585 sq.m., located on the streets of Frangoudi 11 and Al. Pantou, in Kallithea. The building is leased to the Greek State and houses the General Secretariat of Communication and Information. The price for buying this property was EUR 15.47 million. This investment highlights the Company’s strategy to strengthen its portfolio with high-performance and reliable employees. In the final line the merger BriQ Properties with Intercontinetal International After a delay of 2.5 years at the end of December it is expected to complete the merger of BriQ Properties with Intercontinetal International. With this merger BriQ Properties, it turns into a strong SNEAP with the value of its portfolio doubling, reaching 283m euros out of 149m euros. We recall that the transaction was very complicated, with three stages, of which two have been completed. The first stage was completed on 17/6 with the purchase of the latest ICI property by BriQ. 17 properties were acquired over the amount of EUR 60.58 million. However, because real estate needed identification and legalization, the process was quite time consuming. The transaction was financed 100% by borrowing. The merger offers significant benefits to BriQ, mainly doubling the portfolio’s value to EUR 283 million and annual rent revenue to EUR 21 million. At the same time, a reduction in operating costs is achieved due to synergies, with an estimated savings of EUR 1 million in 2025, contributing to the increase in profitability. In addition, the return on the portfolio is increased at a gross return of 7.6% on fair value, while provision is made for a rise in dividend yield by at least 5.3% in 2024.
What the two strong agreements between SNEs provide for
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