Funds in excess of 16 million euros have been invested exclusively in the student housing market. AEEAP Premium Real Estate within the last 12 months. In general, the company now has student housing complexes in Xanthi, Athens (Kypseli), Patras and Thessaloniki, and is also exploring their placement in other cities, mainly in the region. “We believe that there is significant room for activity in the student housing sector, especially in cities in the region with a strong student presence, given the low level of quality in which public student residences are located,” Mr. Konstantinos Markasos reports to “K”.Managing Director of Premia Properties.

Within a week, the listed company announced that it had entered into a preliminary contract for the purchase of a separate building in the center of Xanthi. According to the information, the total investment will amount to 6 million euros, since in addition to the purchase of the building, significant modernization work will be carried out, both functionally and aesthetically, as well as energetically. The property was purchased by a group of private owners, and Premia has already secured a 20-year long-term lease with Hamlet Student Flats, which specializes in the operation and management of student apartments and buildings.

The acquired building has a total area of ​​5,250 sq.m. and will include 105 furnished apartments ranging from 22 to 53 sq.m., as well as a shop on the ground floor with an area of ​​720 sq.m. (supermarket), as well as underground parking area of ​​1050 sq.m. According to the management of Premia Properties, the annual rental income of the building will be 300,000 euros. Combined with other student residences acquired by Premia, the related activities alone generate an annual income of 1.04 million euros. In total, along with real estate, Xanthi Premia currently controls a portfolio of four buildings, which consist of 258 student-rented apartments. The total area of ​​the buildings is 13,000 sq.m.

Prior to the investment in the city of Xanthi, Premia acquired three respective properties consisting of 153 apartments in Patras, Thessaloniki and Athens. Real estate in Thessaloniki consists of 85 apartments, located on Valaorito street and belongs to the church. Therefore, there is a long-term operating contract. Accordingly, the property in Patras is located in the city center and has 49 apartments, while the property in Athens is located near Kypseli Square, in the center and consists of 19 apartments. Hamlet leases all buildings under 20-year contracts. Services are provided in all buildings, such as e.g. Internet access, covering utility bills and general users, and they also have electrical appliances. And rental prices per month start at about 250-300 euros and reach up to 550-600 euros, depending, of course, on the chosen service package.