Grivalia Properties REIC

Published on 24/02/2016 in Participants

Grivalia Properties REIC

AIS welcomes Grivalia Properties as a participant at the Summit, and thanks Ms. Natalia Strafti, Chief Operating Officer, for her participation in the afternoon thematic session on Property Investment in Greece. 

Grivalia Properties REIC is the leading Greek Real Estate Investment Company and amongst the 15 largest companies in the Athens Stock Exchange (ASE) in terms of capitalization with approximately €750 m market cap as at December 31st  2015, operating under the Greek REIC legislation framework and monitored by the Hellenic Capital Market Commission.

The company’s shareholder base consists of large and reputable institutional investors, such as Fairfax Financial Holdings, Wellington Management Company, Fidelity Management and Research, as well as Eurobank Group. Overall more than 72% of the shareholder base consists of North American long term institutional investors.

Company’s assets under management are one billion euro, including a real estate portfolio of 86 assets, the majority of which are located in Greece. The Group is also present in Serbia with two (2) commercial properties and in Romania with three (3) assets all seating in SPVs. The total size of the portfolio is c. 745 k square meters, leased to high profile national and multinational players such as Eurobank, Hellenic Republic, Praktiker, MART Cash & Carry, L’Oreal, Abbott, Marks & Spencer, H&M, Tetrapak and others.

Additionally, the shift in the sustainable approach for Group’s business activity will be in the future a key pillar of its strategy. The energy upgrade of Kifissias Plaza which was renamed Green Plaza ( falls in the above-mentioned context.

The investment is estimated are € 7 million and will be completed in 2016. The upgraded Green Plaza, once completed, will be the first "green" building in Greece to be certified according to the special LEED version for Core & Shell, applied for assets intended for lease. Additionally, Company's office building located in Sorou Street in Maroussi was certified according to LEED for Existing Buildings: Operations & Maintenance GOLD as well as the highest certification rating LEED Platinum for Company’s building located in Thessalonikis street in Tavros.

Grivalia recently completed and announced the foundation of its subsidiary Grivalia Hospitality, the object of which will be the acquisition, development and management of high-end hospitality real estate, mainly in Greece.

Grivalia aims at maximizing existing portfolio profitability and growth, maintaining high levels of liquidity in order to be able to exploit secure and profitable investment opportunities and providing outstanding return for its shareholders. To achieve these goals, the Company relies on its significant comparative advantages, namely its management team, expertise, high credibility, solvent shareholders and its partnerships with leading business groups.