NBG Pangaea buys commercial property in central Athens for 5.7 mln euros

NBG Pangaea REIC on Wednesday announced the purchase of a commercial real estate property building located in central Athens for 5.7 million euros.

In an announcement, Pangaea said it will invest 1.3 million euros to fully restore the building, raising its investment to 7.0 million euros.

NBG Pangaea CEO Aristotelis Karytinos, commenting on the deal, said it is an exceptional building that Pangaea plans to transform into one of the most beautiful properties in Ermou street – Greece’s most popular commercial pedestrian road – adding that the company expected significant interest for leasing contracts.