Sterner Stenhus, which controls Premia Properties, and the Antetokounmpo family are expanding their investment relationship, as through the formation of the company Renti to Go they have acquired 100% of the shares of Trivillage Developments Greece Single Member, which owns and operates the Village Shopping & More shopping centre in Renti, Attica. The acquisition price of Trivillage amounted to €14.1 million, and as BnB Daily understands, it was a proposal that came to Sterner Stenhus and the Antetokounmpo family, which they had been discussing for over 1.5 years.

DEVELOPMENT WITH A FOCUS ON SPORTS

"I am investing with my family and in cooperation with Ilias Georgiadis in an area of Attica where my brothers and I spent our childhood together. We made one of our biggest investments in Greece. Our vision is to upgrade the area, offering people and their families unforgettable moments, as well as to implement our broader plans for the development of sport," said Giannis Antetokounmpo. For his part, Thanasis Antetokounmpo added that this professional move is not only aimed at development with a focus on sports events but also carries an emotional character, as they have special memories from their childhood.

SPORTS & ENTERTAINMENT CENTER

The property has a gross building area of 49 thousand square meters on a 36-acre site and is currently operating as an entertainment park with Village Cinema as the main tenant.

This particular business move by Yannis Antetokounmpo and Elias Georgiadis aims to upgrade the well-known complex and create a model sports and entertainment center (sports and entertainment center) and a meeting point for families with children and young people in the wider area.

As BnB Daily is informed, the halls of Athens Village will be retained, while the property, although the facilities are in good condition, will be added to and upgraded overall.

It is noted that Eurobank supported the development and financing of this project, while CBRE provided the advisory services.

RENTI TO GO

Renti to Go is a joint venture of a group of private investors in which:

• Elias Georgiadis (through Sterner Stenhus Greece).
• The Antetokounmpo family
• Premia Properties (through a subsidiary)
• Giorgos Panou
• Yannis Konstantinou (through a US resident)
• Alex Papaconstantinou (resident in Sweden)

STRATEGIC PARTNERSHIP

Elias Georgiadis, CEO of Sterner Stenhus and Chairman of the Board of Premia, said: "We are delighted to extend our real estate partnership with the Antetokounmpo family to such an important property as Village Cinema Renti and to involve new private investors. With the vision of Giannis and Thanasis and our own knowledge in the real estate industry, we will revitalize the well-known spot and turn it into an entertainment sports park." 

For his part, Kostas Markazos, CEO of Premia, said: "This transaction represents another strategic partnership between Premia and highly valued partners, which will enhance the size and diversification of our portfolio as well as the company's revenues."

Recall that this marks the second business partnership between the Antetokounmpo family and the Georgiades brothers. The former, through the family holding company Ante Inc., have invested in Hellenic Wineries, acquiring 10% of the shares.

Hellenic Wineries is owned by Ilias Georgiades' Sterner Stenhus, who controls the listed real estate investment company Premia Properties.