Earlier this week, Papalekas cashed 25,641 shares and Dimitris Raptis, co-CEO and Chief Investment Officer, received 7,784 shares. Overall, Papalekas currently owns 25,641 “shares, the equivalent of 0.01% of the total, and Dimitris Raptis holds some 740,000 shares, or 0.33% of the total.
Papalekas had sold all his shares in Globalworth, for nearly EUR300 million, just a few weeks before the whole European eco¬nomy would be hit by the coronavirus pandemic. Papalekas had sold his package of shares to Czech billionaire Radovan Vitek, the shareholder of CPI Property Group. In the past, Papalekas had sold the City Mall in Bucharest for EUR120 million, and bought it back after the crisis for less than EUR20 million in order to turn it into office building.
Globalworth has become the largest office owner in Central and Eastern Europe, with a portfolio of office, industrial and residential projects valued at nearly EUR3 billion, of which its properties in Romania are valued at EUR1.377 billion end- 2019.
Globalworth Romania’s portfolio has been consolidated over the past months by extending some contracts for a period of 3 to 11 years, for key partners such as Adecco, Cegedim, Sfanta Maria Clinics and Laboratories, Mazars and Unicredit. The lender had its contract extended for 17,000 square meters of office space, after having considered relocating to One Verdi Park offices that are currently developed by One United.