Sunday April 19, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek REIT said to seek $1.4 billion as foreign investors return

Pangaea REIC, the real estate investment trust owned by Invel Real Estate Partners and the National Bank of Greece SA, aims to raise about 1 billion euros ($1.4 billion) to invest in Greece and Italy, three people with knowledge of the matter said.

Pangaea, based in Athens, plans to issue bonds by the summer and offer shares to the public for the first time as early as October, according to the people, who asked not to be identified because the information is private. They declined to say what proportion of the proceeds each will account for.

Foreign investors are returning to Greece after a crisis that nearly pushed the country out of the euro, and the European Commission predicts the economy will grow for the first time in seven years in 2014. Regulators set a deadline of October 2015 for Pangaea’s IPO.

The Athens Stock Exchange General Index has jumped 182 percent since reaching a 22-year low in June 2012. The Hellenic Republic’s bonds returned 23 percent in the first quarter, the best performance among 34 sovereign-debt markets tracked by Bloomberg World Bond Indexes.

Ellie Sweeney, a spokeswoman for Invel at Powerscourt in London, declined to comment.

Invel, a London-based real estate investment firm led by Christophoros Papachristophorou, bought a 66 percent stake in Pangaea in December in a deal that valued the company at about 1 billion euros. Pangaea has since acquired real estate in Greece and Italy and currently has assets totaling 1.2 billion euros, the people said.

Papachristophorou is a former managing director at Deutsche Bank and global head of RREEF Opportunistic Investments.

[Bloomberg]

ekathimerini.com , Wednesday April 2, 2014 (11:52)  
US Treasury secretary urges Greece to reach debt deal
Greece poised to sign gas deal with Russia, says German weekly
Russia gas deal would not solve Greece’s problems, says Schaeuble
Spanish official slams Greece, says time ´running out´
Kotzias to begin US visit with Kerry meeting in Washington
Foreign Minister Nikos Kotzias is due to begin a five-day visit to the US on Monday. He will begin his trip by meeting Secretary of State John Kerry in Washington, where he will also hold ta...
Turkey asks for investigation into Greek mosque attacks
The Turkish Foreign Ministry has asked Greece to investigate the vandalism of two mosques in Komotini following incidents on Friday. “Turkey requests Greek authorities to clarify as soon as ...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
Back to the beginning
From 1980 up until the present day, the Greek educational system has given a false sense of democratization based on a flawed system of educator and student participation. The educational ou...
EDITORIAL
Protecting a key asset
Tourism has emerged as the only real “heavy industry” in Greece to have weathered the crisis so it is not only a question of duty that everyone protect it but also interest. To begin with, m...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. US Treasury secretary urges Greece to reach debt deal
2. Greece poised to sign gas deal with Russia, says German weekly
3. Russia gas deal would not solve Greece’s problems, says Schaeuble
4. Spanish official slams Greece, says time ´running out´
5. Kotzias to begin US visit with Kerry meeting in Washington
6. Turkey asks for investigation into Greek mosque attacks
more news
Today
This Week
1. Back to the beginning
2. Terrorism suspects caught following German request
3. Golden Dawn on trial amid conflict over court venue
4. US Treasury secretary urges Greece to reach debt deal
5. Greece poised to sign gas deal with Russia, says German weekly
6. Turkey asks for investigation into Greek mosque attacks
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. In the shadow of Greek prison, locals dread Golden Dawn trial
6. Putting off payments led to Q1 budget primary surplus
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.