Trastor’s Real Estate Portfolio Expected to Surpass €700 Million by 2025
Trastor’s real estate portfolio is projected to exceed €700 million by the end of 2025, driven by ongoing and planned investments. The management’s strategy focuses primarily on the logistics sector and green office buildings. However, a new third pillar of development is anticipated, which will involve hotel and tourism properties.
New Subsidiary Established for Hotel Investments
To facilitate this, a new subsidiary has been established, expected to serve as a vehicle for implementing related investments in Cyprus, utilizing the sale & leaseback method. This approach may lead to the acquisition and leaseback of hotel properties in Cyprus, especially given that the share capital of this new company is notably high, amounting to €33 million.
Continued Investments in the Greek Market
Simultaneously, investments in the Greek market are ongoing. The most recent and significant move involves a co-investment in the development phase for the construction of the largest standalone distribution and storage center currently being established in Greece. This facility will cover an area of 74,766 square meters, accommodating the Sklavenitis Group on a 185-acre plot in Aspropyrgos, very close to the Thriasio Plain. Upon completion, the property is estimated to be valued at €80 million.
Recent Acquisitions and Growth
During the first half of this year, the company acquired three additional modern logistics buildings, totaling 39,377 square meters, with an overall investment of €34 million. As recently stated by CEO Tasos Kazinos, since 2019, the company has invested €110 million in the logistics market, creating a portfolio of buildings covering 164,000 square meters, primarily in the Aspropyrgos area.
Future Developments
By the end of 2025, the construction of one of the largest markets in this category, a building covering 75,000 square meters, will also be completed. With the addition of this property, 80% of the logistics portfolio will comprise newly constructed buildings, with 54% of them certified under LEED standards. Currently, the group’s portfolio consists of 60 properties, with a total valuation of €536.4 million, compared to 55 properties valued at €468.7 million at the end of 2023. This restructuring led to gains of €11.7 million from the portfolio’s adjustment to fair values.
