Two major foreign investment funds entered the share capital of NBG Pangaea Real Estate Investment Company indirectly this week, confirming the interest of foreign investors in the Greece’s real estate market, ANA reports.
These are the U.S. private equity firm Castlelake and British fund Coller Capital, which specializes in direct and fund of funds investments. The two firms purchased stakes in Invel Real Estate Partners, a private equity fund that owns a 65 percent stake in Pangaea.
Pangaea is Greece’s biggest real estate investment company and operates as a subsidiary of the National Bank of Greece (NBG), which owns about 33 percent in the company. Together with its subsidiaries, it invests in, manages, and operates real estate properties primarily in Greece, Italy, and Romania.
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