The historical maximum net margin was recorded in 2022 Trastor, as its profit reached 34 million euros, increased by 32% compared to 23.1 million euros in 2021. A significant increase of 20% was also marked by the group’s revenue, which reached 21.7 million euros. During 2022, Trastor made an investment of €49 million to acquire seven new investment properties, mainly in the categories logistics and office buildings. At the same time, he completed the construction of two commercial warehouses and sold eight real estate instead of the amount of 10.3 million euros.

Trastor’s management has provided liquidity totaling €75 million to fund the listed company’s investment plan and maximize the value of the portfolio, which today stands at €408 million and consists of 57 properties with total leasable area. with an area of ​​288,200 sq.m. and an annual rental income of €26.4 million. In this context, a new bond issue was completed a few weeks ago for a total amount of 250 million euros, which will be fully covered by Piraeus Bank.

They amounted to 34 million euros, an increase of 32% compared to 2021.

Of this amount, €200 million will be used to refinance existing loans, namely four individual Trastor loans. They will also enable the purchase of the 80 office building, which was acquired under a qualifying finance lease through National leasing. This is a former DOL office building on Michalakopoulou Street with an area of ​​15,000 sq.m, which Trastor has reconstructed and leases to a number of companies, such as the Development Bank and Wolt.

The remaining €50 million of the said bond will be used to purchase new properties and generally to further develop the listed company’s portfolio. They will be added to the €25 million that will be raised for this purpose from a €55 million convertible bonded loan that was also recently agreed with Piraeus Bank. The loan is convertible into shares and includes an in-kind contribution in addition to financing, as Trastor will acquire three buildings from the Piraeus Group in a first stage for a total value of €10.4 million. The bond will be unsecured and without financial costs, and it will be fully covered by Piraeus Bank. Its duration will be 18 months, after which it will be converted into Trastor shares at the rate of 1.32 bonds per 1 share. The convertible bond solution was chosen to allow Piraeus Bank to invest new properties in the Trastor subsidiary in a more direct manner than through a capital increase process.