Real Estate

Värde Partners Acquisition of Trastor SA

We advised Värde Partners in their acquisition of a controlling stake in Trastor, a Greek listed real estate investment company, by purchasing existing shares in Trastor held by Piraeus Bank and subscribing for new shares in Trastor issued pursuant to a rights issue. The transaction was carried out in the context of Piraeus Bank’s commitments to the Directorate General for Competition of the European Commission to divest from non-core banking activities.

Astir Palace Vouliagmeni Resort Acquisition

We advised Jermyn Street Real Estate Fund IV LP, a fund managed by AGC Equity Partners, acting through its subsidiary Apollo Investment ΗoldCo, in its capacity as the leading member of the consortium being the successful bidder in the international tender of the Hellenic Republic Asset Development Fund (HRADF) and the National Bank of Greece for the privatisation and re-development of the Astir Palace Vouliagmeni resort, located on the Attica Riviera.

Trans Adriatic Pipeline AG (TAP) Project

We are advising the finance parties on the real estate law issues arising in the context of the project financing of TAP’s development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek/Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe Enagas Internacional, S.L.U. and Axpo Trading.

Florac Chalkidiki Hotel Projects

We acted for the French private equity fund FLORAC in their entry into equity contribution and management agreements, as partners with Oaktree Capital Management and Goldman Sachs, in relation to Sani Resort, one of Greece’s largest 5-star touristic and residential developments, the Oceania Beach and Ikos Resort, both 5-star hotels and all located in the area of Chalkidiki, in Northern Greece. This is one of the largest touristic project transactions ever completed in Greece.

Private Equity Real Estate Investment

We are advising an asset investment firm in relation to their investment for the acquisition and development of a prime location luxury hotel and residential project located on the Athens Riviera coast.

Private Equity Real Estate Investment

We are advising an asset investment firm in relation to their investment for the redevelopment and expansion of a marina located on the Athens Riviera coast.

Hellenic Republic Asset Development Fund Advice – Privatisation of Portfolio of Preserved Buildings in the Acropolis Area, Athens

We are advising the Hellenic Republic Asset Development Fund in connection with the privatisation process of a portfolio of preserved residential buildings in the area of Acropolis, Athens. Our advice covers the assets’ legal maturity process, the tender process through electronic auctions, the negotiations, the drafting of transaction documents with the counterparties and the closing of the transaction.

Hellenic Republic Asset Development Fund Advice – Privatisation of Real Estate Assets

We advised the Hellenic Republic Asset Development Fund in connection with the privatisation process of a real estate asset located in the area of Porto-Heli in the Peloponnese. The project consisted of an international tender for the creation of a touristic development including hotels, condos, villas, a golf course and a private airport in Athens. Our advice at this stage covers the asset’s legal maturity process and the tender process.

Hellenic Republic Asset Development Fund Privatisation of Real Estate Assets

We are advising the Hellenic Republic Asset Development Fund (HRADF) in the structuring, development and international tenders of its private real estate assets in the context of the obligations undertaken by Hellenic Republic pursuant to the Memorandum of Understanding with the IMF, EU and ECB, including the privatisations of the Kassiopi area of Corfu and Paliouri area of Chalkidiki.

Hellenic Republic Asset Development Fund Advice

We are advising the Hellenic Republic Asset Development Fund in connection with the structuring, development and international tenders of its private real estate assets, in the context of the obligations undertaken by the Hellenic Republic pursuant to the Memorandum of Understanding with the IMF, EU and ECB. The proceeds of the privatisations carried out by the HRADF is calculated at approximately €16bn.

Hellenic Republic Asset Development Fund Advice

We are advising the Hellenic Republic Asset Development Fund on several real estate legal issues based on both Greek and EU legislation, in the context of the Hellenic Republic real estate exploitation and development program.

Private Equity Real Estate Investment

We are advising a private equity fund on their investment for the acquisition and re-development of 2 summer resorts in Greece, currently owned by a multi-national leisure and hospitality organisation.

Leasing Company Advice

We are advising a financial leasing company on the negotiation, drafting and execution of leases and sub-leases of office space and retail properties in the greater area of Athens.

Leasing of AAA Office Space

We are advising a leading Greek real estate group in their negotiation with a leasing company of a AAA office space building in the greater area of Athens and the negotiation and completion of a transaction involving the disposal of the owning company of a AAA office space building located in the centre of Athens. We also advise entities within group on the lease and sub-lease of their premium office space buildings in Central and Greater Athens and the re-structuring of their real estate financing structure.

Blueland SA Refinancing

We are advising Blueland SA, a T. Angelopoulos Group company, on the re-negotiation of a €45m financial leasing with Eurobank Leasing, regarding a 16,000sm AAA office space building in the greater area of Athens.

Sale & Leaseback of Hypermarkets

We advised a real estate fund in their c.€150m acquisition and leaseback investment of four hypermarkets located in Athens and Thessaloniki and on the real estate entities created by the fund in Greece.

Advice to the Swatch Group

We advise The Swatch Group Ltd on an ongoing basis in relation to their corporate retail spaces in Greece.

Lease of Offices and Retail Properties

We are advising a financial leasing company on the negotiation, drafting and execution of leases and sub-leases of office space and retail properties located in the greater area of Athens to a major multi-national electronic and electrical equipment retailer.

Elbit Cochin Participation in Hellinikon Airport Privatisation and Development Tender

We advised Elbit Cochin in their participation in the international tender issued by the Hellenic Republic Asset Development Fund for the privatisation and development of the former Hellinikon Airport area in Athens.

Dolphin Capital Participation in Astir Palace Privatisation and Development Tender

We acted for Dolphin Capital in their participation in the international tender of the National Bank of Greece and the Hellenic Republic Asset Development Fund for the privatisation and development of the Astir Palace Vouliagmeni area in Attica.

Touristic Acquisition and Development

We advised a leading Chinese real estate group in relation to a potential real estate touristic acquisition and development project in Greece.

Disposal of Zenon – Marinopoulos/Carrefour Hypermarkets Portfolio

We advised APN/UKA European Retail Trust in the disposal of Zenon-Marinopoulos/Carrefour Hypermarkets Real Estate Portfolio.