BUSINESS

Top-quality properties up for grabs

NIKOS ROUSSANOGLOU

TAGS: Property

Properties worth hundreds of millions of euros are expected to come on the market in the next few months as banks and the investments funds that have acquired portfolios of loans secured against property assets are picking up the pace in this process to make the most of improving conditions and institutional investors’ appetites for more and larger properties, so as to secure higher prices.

This acceleration follows the keen interest that Bain Capital encountered a couple of months ago when it put dozens of properties on the market. These are properties the investment fund acquired from Piraeus Bank in May 2018 for 432 million euros. In total it has sold properties adding up to 40 million euros, including buildings leased by the European Bank for Reconstruction and Development and the Hellenic Parliament Foundation in central Athens.

Likewise, Ethniki Leasing has started the process to concede two more properties for which there is high demand, with the minimum price set at 42 million euros. These buildings housed the Odeon Starcity multiplex cinema on Syngrou Avenue and the former headquarters of the Lambrakis Press Group.

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