The European Bank for Reconstruction and Development (EBRD) has invested €21.7 million ($22.5 million) in the P&E Investments Axiopoiisis & Anaptyxis Akiniton consortium, partnering with Dimand and Premia Properties. The investment secures EBRD a 20% stake in the consortium and supports the redevelopment of Skyline, a portfolio of around 460 commercial and residential properties across Greece.
The Skyline portfolio, controlled by the consortium with a 65% stake, will focus on enhancing prime assets through redevelopment and repositioning while preparing others for trade sale. Alpha Bank, the seller, retains the remaining 35% stake in the special-purpose vehicle. The project aims to revitalize underutilized properties, improve the functionality of cities, and provide retail investors with opportunities to invest in existing real estate.
This initiative prioritizes sustainability, with redeveloped properties targeting green building certifications such as LEED Gold or BREEAM Very Good. The project will also adopt GRESB standards, a global ESG benchmark for real estate, to enhance climate governance and raise awareness of energy and water efficiency.
The EBRD has been operating in Greece since 2015 to aid the country’s economic recovery. To date, it has invested more than €8 billion across 116 projects in the corporate, financial, energy, and infrastructure sectors.
