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Restructuring of luxury commercial property

As part of an REO portfolio, Southrock acquired a 5.644 m² commercial property on Vouliagmenis Avenue, Athens that was constructed in 2008. The impressive stand-alone building, originally a high-end showroom, was repositioned by Southrock to tap into the growing demand for premium office spaces in the southern suburbs of Athens.

The repositioning involved converting the top floors into desirable office spaces, enhanced by an architectural revamp for better layout and lighting. This strategic decision capitalized on the limited office space supply in areas like Glyfada, where many companies seek workspaces, especially ones active in the shipping sector.

Southrock’s asset management strategy also streamlined the legal and transactional processes, ensuring a quick and efficient market reentry. This approach, combined with securing the necessary building permits and addressing safety issues, significantly raised the property’s market appeal.

Southrock also implemented a comprehensive marketing strategy to promote the sale of the property. Through these targeted initiatives, the property was transformed to deliver exceptional value to its investors and to align with the dynamic Athens real estate market trends.