(ATHENS, GREECE) – Hines, the international real estate firm, has acquired one of the most prestigious office buildings in the center of Athens. Located at 23 Vasilissis Sofias Avenue, the 2,500-square-meter super-prime building is within 400 meters of the Greek Parliament, Presidential Palace and the Maximos Mansion, the Office of Greece’s Prime Minister.
The area is popular with international government organizations and global businesses. Current tenants in the building include The Embassy of Brazil, the Embassy of Portugal and Mastercard.
The acquisition of the 23 Vasilissis Sofias Avenue building represents Hines’ first office asset in Greece since establishing a presence in the country in 2014.
Paul Gomopoulos, Hines’ Greece regional head, said, “23 Vasilissis Sofias Avenue is one of Athens’ most highly prized and prestigious addresses in the center of the capital. With strong demand from international organizations and global corporations, the building offers attractive long-term yield. We are actively looking to invest in other high-quality office assets and development opportunities within Athens.”
Hines acquired the building from a private seller.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 214 cities in 24 countries. Hines has approximately $120.6 billion of assets under management, including $66.5 billion for which Hines provides fiduciary investment management services, and $54.1 billion for which Hines provides third-party property-level services. The firm has 128 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,348 properties, totaling over 444 million square feet. The firm’s current property and asset management portfolio includes 512 properties, representing over 223 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
Since entering Europe in 1991, Hines has grown its European platform to include a presence in 55 cities in 13 countries and Hines currently has €16.7 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Spain and the United Kingdom.