Located in the vibrant Ladadika area in the heart of Thessaloniki, this 4,530 sqm building was formerly home to “Democritus,” the 1st Vocational Senior High School of Thessaloniki. Its prime location, near the city’s main avenue, Tsimiski Street, enhances its appeal as a valuable real estate asset.

Project Structure

The property was acquired through the Special Purpose Vehicle (SPV) “DEMOCRITUS Real Estate Development S.A.”. The project focused on a strategic flip transaction, with the following key steps:

1. Acquisition: The building was purchased through the SPV.
2. Flip Transaction: The SPV was sold to a new owner in a direct sale, capitalizing on the building’s prime location and historical significance.
3. SPV Sale: Selling DEMOCRITUS Real Estate Development S.A. allowed the new owner to take control of the property without further operational hurdles.

Key Advantages

• Prime Location: Situated in Ladadika, one of Thessaloniki’s most popular districts, close to Tsimiski Street, the property benefits from excellent connectivity and access to retail, dining, and entertainment options.
• Strategic Flip: The project involved a fast and efficient flip, securing profit through the sale of the SPV without the need for long-term development.
• Historical Value: The building’s legacy as a former renown school adds a unique character.

Conclusion

This project exemplifies a well-executed strategic flip, combining the acquisition of a historically significant property with its resale through a Special Purpose Vehicle. Its desirable location in Thessaloniki’s Ladadika district and the swift transaction approach made this an attractive and profitable investment opportunity.