Alpha Bank's search for partner on 575 properties meets solid demand

Alpha Bank’s Skyline project, involving the sale of some 575 properties to a strategic investor, has been met with strong demand, Greek media reports.

Investors had until tomorrow to submit bids on the assets but the deadline has been pushed back two weeks to November 5 in order to give investors more time to assess the properties, reported.

The portfolio is estimated to be worth some 500 million euros and consists of some 50 prime assets and another 320 properties that require improvements before being able to be sold or used. An additional 205 residential apartments have also been included in the package.

Based on the timeline set out by Alpha Bank, the deal is expected to be concluded in the first half of next year.

AXIA Ventures Group Ltd and the Investment Banking Division of Alpha Bank are acting as financial advisors.