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Trade Estate aims at a real estate portfolio of 1 billion euros

Trade Estate plans to acquire a real estate portfolio worth 720-740 million euros in 2028, following new investments of 206.9 million euros

Today the value of its real estate portfolio amounts to 484 million euros.

The aim is to reach 1 billion euros, the chairman of Trade Estate and Fourlis Participations, Vassilios Fourlis, said, adding that the reduction of interest rates will contribute to that goal.

The management also referred to its estimates for 2024 results:

-Rental income of 33–35 million euros (up 24%-31% compared to 2023).

-Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) 25-26 million euros (up 37%-43%). Funds from operating activities (FFO) 11-12 million euros (up 24%-35%).

Fourlis noted that Trade Estate has decided to pay an interim dividend in December and reiterated his commitment to reduce the percentage of Fourlis to below 50% in order to increase the marketability of the share.

“We are in favour of independent companies with a perspective, and not subsidiaries,” he explained.

Trade Estate, specializing in investments related to the development and management of new generation Commercial Parks and Omnichannel Logistics Centers, has net borrowings of 187.2 million with a weighted average borrowing cost of 3.99%, while the net borrowings/portfolio value ratio stands at 40.7%.

Its 2024-2028 investment plan of 207.4 million euros will be covered by operating cash flows (77.3 million) and borrowing (132 million secured lines and 141 million new four-year lines).

Based on its estimates, in 2028 its net borrowing will have reached 399.5 million, of which 28.2% will be loans from the Recovery Fund.