Noval Property: “Green investment” with Kodak property purchase

Noval Property acquired the former property Kodak which is located in Maroussi, for 28.6 million euros. Specifically, Noval Property announced that through the company «THE GRID SA», with a shareholding structure of 50% Noval Property and 50% Brook Lane Capital, it acquired, after a procedure for the nomination of the highest bidder and pursuant to no. 1417/2021 decision of the Single-Member Court of First Instance of Athens, plot of land of approximately 16 acres, on 10-12 Himaras Street in Maroussi-Chalandri Avenue, in Maroussi (former Kodak property).

In this plot, a modern complex of green office buildings, with a total built area of approximately 49,000 square meters, will be developed, which will adopt the principles of sustainable development and bioclimatic design and is expected to receive a LEED certification.

The selection process of the study group is already underway. The price of the transaction amounted to 28.6 million euros and was financed through a combination of bank lending of “THE GRID SA” by PIRAEUS BANK and equity.

It is noted that the funds, according to the portion allocated to Noval Property, for the construction of the project will be raised from the Green Common Bond Loan of Noval Property, which was admitted to trading on December 7, 2021 in the Fixed Income Securities Category of the Regulated Market of the Athens Stock Exchange.

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