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Greece REITs
Pangaea REIC - (Greece Diversified)
Monday, 15 September 2014 06:48

In early-2014, Invel Real Estate Partners (Netherlands), announced the completion of its acquisition of a 66% stake in NBG Pangaea Real Estate Investment (established in 2010 and the largest of the Greek REICs), from the National Bank of Greece / NBG for €653m (with the help of New York's York Capital Management, who co-invested €125m), with a portfolio of 269 commercial properties with 700k sqm of space, worth approx €1bn, comprising nearly all of the main NBG office buildings and bank branches in Greek cities, with concentrations in Attica and Thessaloniki, and plans to acquire the leased assets of the Hellenic State. Intel said, “Pangaea offers significant potential to become one of the leading real estate investment companies in Southern Europe and the Balkans and we aim to grow to over €2bn of high-quality and well-tenanted commercial properties in good locations over the next 5 years." Invel Real Estate Partners (established in 1991 by the ex-Deutsche Bank Global Head of RREEF Opportunistic Investments with approx USD$19.4bn AUM), seeks investments in European markets which involve corporate and government restructuring, complex capital structures, and / or asset redevelopment and repositioning. York was established in 1991 and had approx USD$19.4bn AUM.

Invel Real Estate Website Link

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National Bank of Greece / NBG REIT – (Greece NBG)
Tuesday, 12 July 2011 09:30

The bank announced plans for the REIT in 2009, with an aim of initially holding the bank’s own portfolio (branch offices), worth approx €900-€1bn, before expanding it to include others afterwards.

NGB Website Link

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Last Updated on Monday, 13 February 2012 04:17
 
MIG Real Estate REIC – (Greece MIGRE)
Tuesday, 12 July 2011 09:29

MIG Real Estate was established in 1999 as Attica Properties, listed 2009, and is one of the few listed Real Estate Investment Companies (REICs) operating in Greece, and was created by MIG & Marfin Investment Groups to acquire and manage commercial properties plus shares in real estate companies, and has a portfolio comprising approx 35 buildings (2011), mostly offices, bank outlets and retail shops in Athens, Attica, Piraeus, and Thessaloniki, plus a couple in Romania held via a subsidiary, Egnatia Properties, which was acquired in mid-2010.

MIGre Website Link

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Last Updated on Monday, 13 February 2012 04:22
 
Trastor REIC – (Greece TRASTOR)
Tuesday, 12 July 2011 09:29

Trastor was established in 2003 by Piraeus Bank and formerly Piraeus REIC, listed in 2005, and focuses on acquiring and managing good quality commercial property in Greece (mainly in Athens – plus 55%) comprising: high street shops in strong retailing areas and large retail units (such as supermarkets and big boxes); new or modern offices in established CBD or decentralized office locations; and new or modern logistics buildings. Initially its portfolio comprised bank branches but has since grown, especially since Pasal Development acquired about 40% in 2008, and now comprises over 10 offices & retail (approx 60% portfolio); shopping centres (approx 30%); and about 15 petrol stations and a car park across Greece.

Trastor Website Link

Trastor Email Link

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Last Updated on Monday, 13 February 2012 04:26
 
Eurobank Properties REIC – (Greece – EUPRO)
Tuesday, 12 July 2011 09:29

Eurobank Properties (established 2000 as a subsidiary of EFG Eurobank Ergasias) holds a diverse portfolio of offices, retail, residential and industrial properties across Greece, Romania, Bulgaria, Serbia, Poland and Ukraine, comprising about 50 properties mostly in Athens (about 40); with about 10 in Thessaloniki, Patra, Volos, Larisa, and Iraklion (Crete); a a one or two in Ukraine; Romania; and Serbia (end-2010). It manages and markets the portfolio as well as offering valuations (about 50,000 a year), advisory services, market research, technical & facility management, asset management and brokerage services for other sales and rentals. Deutsche Bank Real Estate Investment Banking & Lamda Development became shareholders in 2000; and it transformed into a REIC in 2005. Eurobank EFG Group is a European banking organisation with approx 1,600 branches in 40 countries and total assets around €85bn (2011).

EuroBankPropertyServices Website Link

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Last Updated on Monday, 13 February 2012 04:16