Investment company Yoda PLC, listed on the Cyprus Stock Exchange’s New Market (NMD), has that certain of its subsidiaries finalised a series of transactions with Prodea Real Estate Investment Company Société Anonyme to acquire a substantial portfolio of diversified commercial, office, and retail properties in Greece and Italy.

The acquisition involved three distinct deals, adding a significant amount of prime real estate to Yoda’s holdings.

Yoda, through its wholly owned subsidiary VYP Group Ltd (VYP), acquired the entire issued share capital (100 per cent) of Milora Single Member Société Anonyme from Prodea. Milora’s portfolio comprises commercial, office, and retail real estate assets in Greece with a total market value of €676.5 million.

The consideration for this acquisition, payable by VYP to Prodea, was split between cash and the transfer of ownership of Papalon Investments Limited to Prodea.

Papalon owns 30 per cent of MHV Bluekey One Single Member S.A., which holds the development project for the Porto Paros Resort.

Through VYP, the company also purchased 30 per cent of the issued share capital of Piraeus Tower Société Anonyme, which owns the office building Piraeus Tower in Piraeus, Greece.

This building has a market value of €107m. The consideration for this transaction will be paid entirely in cash.

Moreover, the company, through its wholly owned subsidiary Papaitaly Investments Limited, subscribed in cash for an 80 per cent shareholding in Langostinos Investments RAIF V.C.I.C.

Langostinos initially held 20 per cent of Intracento – Fondo Comune di Investimento Alternative Immobiliare di Tipo Chiuso Riservato (Intracento), an Italian real estate fund.

Intracento owns an office building in Rome with a market value of €46.6m and is also in the process of acquiring another office building in Milan with a market value of €17.7m once certain conditions precedent are satisfied.

With the additional funding provided by Papaitaly’s subscription for new shares, Langostinos acquired the remaining 80 per cent of Intracento from Prodea, resulting in Langostinos now owning 100 per cent of the fund.

The transactions, which have been conducted at arm’s length and form part of the company’s business plan, were commented on by the CEO of the company Alon Bar.

“Real estate represents a significant portion of our total asset value, positioning it as one of our core investment pillars alongside Hospitality and Shipping”, Bar stated.

“We remain committed to capturing growth opportunities and delivering sustainable returns by focusing on income-generating assets and enhancing the value of our portfolio”, he added.

He also said that “these transactions underscore our deliberate approach to identifying and executing investments that not only provide long-term, recurring EBITDA and cash flow generation but also result in meaningful value appreciation across our balance sheet”.

The company also said that it will review the accounting for these new purchases.

This review will check how the acquisitions affect the company’s overall value (goodwill) and its profit or loss in the main financial reports.

The announcement added that the company will also assess the expected impact on its future performance.

This assessment will be finished after the audits are done in the first three months of next year.

All final figures for goodwill or profitability will then be included in the company’s audited financial statements for the year 2025.