First mass sale of properties in Greece

Bidding for the sale of two property portfolios owned by Eurobank is expected to be completed early next week, at the latest.

The Star and Opus portfolios comprise a total of over 900 properties that the bank foreclosed on, acquired through auction or which failed to sell at a satisfactory price at auction. The book value of these properties is close to 120 million euros, Athens-based Kathimerini reports.

Star consists of 685 properties, mostly residential but also some that are commercial. Opus contains 258 commercial properties.

Binding bids have already been made by investment funds from Greece and elsewhere. Two bidders have bought commercial property in Greece before – offices sold by Alpha Bank for EUR 95 million and the office building of Piraues Bank of EUR 12 million.

Eurobank has also prepared a third portfolio, consisting of 150-200 residential and industrial properties, offices and outlets. It will try to sell this portfolio before the end of 2019.

EFG Eurobank Ergasias SA Bank Athens

ALPHA BANK A.E. ATHENS

PIRAEUS BANK S.A.

Eurobank

Alpha bank

Piraeus bank

Star

Opus

Katimerini

mass sale of properties

offices

stores

warehouses

building land

industrial land

commercial properties

investment funds

outlets

price of properties in Greece