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NBG launches €1 bn REIC

14 January 10 - RE+D Magazine
NBG launches €1 bn REIC

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Solum Property Solutions

Consultant - GREECE

NAI Hellas

Consultant - GREECE

ARXIKON S.A.

Developer - GREECE

Eurobank Property Services

Consultant - GREECE

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Dimitris Andritsos

CEO of Eurobank Property Services S.A Eurobank Property Services

The National Bank of Greece administration gave the green light for the investment property section of the financial institution to be separated from its other activities, creating a new REIT called NBG Paggaia REIC. The new company's IPO is expected in 2010 while its property portfolio is estimated at €1 bn, which leveraged will reach €1.5 bn.

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