Eurobank to sell package of 630 properties, investor interest strong
Eurobank, Greece's third largest lender, has put together a portfolio of real estate assets worth some 22 million euros and is looking to sell it to a fund in coming months.
In the first deal of its kind in Greece, Eurobank has packaged 630 properties, 30 percent of which are located in Athens and Thessaloniki. About half are residential properties with the rest being commercial assets and land plots.
Six funds have shown strong interest in the deal and binding offers are expected to be made by the end of the month, reported Capital.gr.
The sale is being closely watched by investors as the large scale sale of properties by banks threatens to send real estate prices further down. After retreating by some 40 percent in the last eight years, prices are seen steadying in the next year or two with growth forecast for some pockets of the market.
According to officials at Eurobank, the lender is preparing to sell a second package of properties, bigger than the first one, Capital.gr added.