Plans to expand Athens Heart mall

Premia Properties plans to expand the Athens Heart mall, south of the city center, into an adjacent property, but first it must settle the 55-million-euro debt to National Bank, the sole creditor of the special purpose vehicle that owns the shopping center.

The two sides are currently in talks over a possible restructuring. Athens Heart has seen revenues decline in recent years, but a debt haircut to €15.7 million is on the table.

The expansion would add 3,200 square meters to the existing 22,000 sq.m.

Premia Properties is also considering adding a mixed-use building, with businesses, offices and other uses to boost revenue.