Fourlis Holdings said that its real estate arm Trade Estates has signed a share purchase agreement to acquire from REDS the retail park Smart Park. 

The value of the property is agreed at 110 million euros. Following the adjustments based on the net debt position as well as the other assets and liabilities of the company with a reference date of 31.8.2023, the price amounts to 93 million euros. 

Still, the exact amount of the price will be finalised on the closing date of the transaction.

“With this transaction, TRADE ESTATES REIC further strengthens its portfolio of quality retail assets and confirms its commitment to the implementation of its strategic plan,” Fourlis said. 

It is reminded that Trade Estates is in the process of listing on the Athens Stock Exchange through an initial public offering.