30.08.2022
The NEA-listed company adds four new properties to its portfolio . to Ypres Wealth Avenue PLC (WEALTH).
This purchase is carried out as part of the implementation of its business plan, in particular in the area of buying, refurbishing and reselling or renting (reselling) private property.
They are acquired by the National Bank of Greece and in particular by its real estate development department and concern the following properties:
1) apartment on the street. Eugenio Karavia 64, ground floor 64.4 sq.m. with warehouse 2 sq.m , Athens
2) apartment at Moshonision street 2, ground floor 68.44 sq.m., Nea Smyrni, Athens
3) apartment at 125 Alkamenou street, 4th floor 55 sq.m., Athens
4) apartment at Aristomenui street 30-36, ground floor 46 sq.m. Athena
The total cost is 200,000 euros.
This acquisition expands Wealth Avenue PLC’s (WEALTH) real estate portfolio and is fully funded by company funds raised through a share capital increase.
K. Lefteris Kontos, Chief Investment Officer of the company, states:
“We are steadily moving forward with the implementation of our plan and with the addition of new properties we are putting another stone in the strategy of expanding the “network” of small apartments, which, however, have great operational potential, and we are strengthening our strategic partnership for the acquisition of real estate owned by banks. And not only that, there will be new announcements in the near future that demonstrate the focus and efficiency of a team working with one main goal… to increase the value of the company and its shareholders.”
