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€1 bn worth RE in Greece to be sold to funds in 2019
The NPL buyers are ready to put up for sale their most attractive RE assets, worth tens of millions. Bain Capital is said to have discussions with International Funds that invest in RE. The RE assets that will be sold this year is estimated to reach €1bn or more. A hold-back though may be the political instability caused by the uncertainty for parliamentary elections date. Major market players claim that a long pre-election period may be harmful to the market, as it will delay the plans of both buyers and sellers. As they say, the political instability will be depicted in the market.
Ethniki Pangaea is among the buyers, aiming to target the biggest opportunities in the market. The company value is estimated at €2bn as it has proceeded to purchases worth 250m at the end of last year. The company will reportedly proceed to increase its share capital at the Athens Stock Exchange market. The biggest problem for the investors remain the high property taxes.
