Invel Real Estate (“Invel”), the real estate investment and asset manager focused on south-east Europe and other selected European markets, has completed the refinancing of the facilities used to acquire its 95% share in PRODEA Investments SA (“Prodea”), the largest REIT in Greece.
The newly issued €600 million 15-year bond was fully subscribed by the National Bank of Greece (“NBG”) and Piraeus Bank.
Since the initial acquisition of a 66% share in 2013, Invel increased its participation in Prodea by exercising its call option in 2019, becoming the largest ever investor in the Greek real estate market. Over the last nine years, under Invel’s active steering, Prodea has increased its GAV from circa €900 million to circa €2.4 billion, whilst also returning in excess of €700 million to its shareholders.
You can now read the full press release at the link below
Supporting documents
Click link to download and view these filesInvel completes €600 million landmark refinancing
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