In Greece banks acted to allocate receivables from property developers. Banks will cover the debts of property developers by selling their assets.

As an example of this situation, in the context of the regulatory agreement stipulated by bankruptcy legislation, the sale of the property package that Pasal Development has transferred to the creditor banks is expected to be announced.

According to experts, Trastor Real Estate Investment Company is said to have made such an attempt to become a strategic partner of Piraeus. The total portfolio of company properties is said to be around 100 million euros.

According to plans to be closely processed, Alpha Bank announced that it will receive a 23.3m-euro property. The most important property to be purchased is the SATO logistics center, the flagship company of Theodoridis Group. If this property is sold, the debt of 14.5m euros will disappear.

On the other hand, Pasal and National will sign a significant debt closing agreement. The bank will buy two lands adjacent to the Athens Heart shopping center.

Source: ekathimerini

Sevdenur Demir / [email protected]