Akfen Real Estate Investment Trust has regained full ownership rights over the 7,116.72 m² property (parcel 5, plot 10714) located in Ömerli Mahallesi, Arnavutköy, Istanbul. The company has terminated the repurchase and sale commitment obligations belonging to Eraysan İmalat İthalat İhracat Plastik Makina A.Ş. (“Eraysan”) for a price of €10,260,000, which is below the appraised value.
The purchase was made based on the balance obtained by deducting the prepaid right of first refusal and purchase price, in accordance with the “Right of First Refusal Transfer and Real Estate Sale Promise Agreement,” from the price corresponding to the relevant share of the real estate (544,663/711,672). Furthermore, Akfen GYO leased a portion of this property to Farklı Yatırım İnşaat A.Ş. at a price above market value, for an annual rent of 250,000 euros (excluding VAT).
