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Sign in Sign up for a FREE subscriptionAlpha Bank sells €438m assets to Diamnd, Premia Properties
Alpha Bank ACBr.AT, one of Greece’s four largest lenders, has agreed to sell real estate assets to Dimand S.A. and Premia Properties for €438 million ($470.6 million).
The consortium will acquire 65 percent of Alpha Bank's estate portfolio, while the bank will retain the remaining 35 percent. Skyline is the vehicle that will hold and manage the real estate portfolio.
The portfolio consists of 573 assets — including offices, commercial real estate, residential, industrial and logistics facilities — totaling 500,000 square meters (5.4 million square feet). A significant number of assets already are leased, with Alpha Bank the main tenant, while the rest are intended to be redeveloped and repositioned to be rented or sold.
“This agreement enhances Premia’s strategic plan through the acquisition of a significant real estate portfolio with great prospects of high profitability,” said Elias Georgiadis, chairman of the board of directors of Premia Propert
