11th Aug 2014 08:41
LONDON (Alliance News) - Secure Property Development and Investment Ltd PLC Monday said it has acquired a 17,756 square metre warehouse in Athens from G.E Dimitriou A.E.E for EUR2 million cash.
The complex, which is fully let, has a net operating income of around EUR1.5 million. Secure Property said 71% of the warehouse is leased to German multinational transportation and logistics company, Kuehne + Nagel International AG.
The company said the acquisition will increase its annual net operating income by around 40% to USD7 million and increase its regional logistics portfolio to 85,00 square metres.
Secure Property shares were untraded Monday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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