Real Estate & Construction

We are proud to announce that POTAMITISVEKRIS acted as the Greek legal advisor in the largest open-market real estate portfolio transaction in Greece.

Our team advised DIMAND S.A. and Premia Properties on the acquisition of a 65% stake in Skyline Real Estate Single Member S.A. from Alpha Group Investments Limited, a member of the Alpha Bank Group. We also provided counsel on the incorporation, structuring of the shareholders’ relationship and investment implementation within the acquisition vehicle, which includes the participation of the European Bank for Reconstruction and Development (EBRD).

Skyline is a real estate investment platform encompassing c. 460 commercial and residential properties, with a total acquisition value of c. EUR 300 million. The joint venture plans to redevelop, reposition, and divest these assets, marking this transaction as one of the most transformative and impactful transactions in Greek real estate in recent years.

As part of the transaction, Alpha Bank financed Skyline through a bond loan facility and will remain a lessee of part of the real estate portfolio. Concurrently, Alpha Real Estate Services S.A., Alpha Bank’s listed real estate management company, entered into an asset management services agreement with Skyline.

This landmark transaction was made possible through the collaboration of our multidisciplinary team:

• Real Estate Team: Led by Theologos Mintzas (Partner) and supported by Valia Anastasopoulou (Associate).
• Finance Team: Led by Anthea Terlegas (Partner) and supported by Theodoros Fostieris, Alexandros Vaisidis and Katerina Gerari.
• M&A Team: Led by Maria Perifanou (Partner) and supported by Spyros Roussakis (Senior Associate), Eliza Koliopoulou (Associate), and Vicky Kotsili (Associate).

We congratulate our clients and all parties involved in this landmark project!

We are pleased to announce that POTAMITISVEKRIS has recently acted as legal advisor in the drafting and negotiation of asset management agreements and service level agreements for real estate asset portfolios.
Our Partner Alexander Metallinos, supported by Associate Lucy Levi, assisted Eurobank S.A. and Eurobank Leasing Single Member SA in concluding the 2nd Service Level Agreement with Cerved Property Services Single Member SA regarding the management of Eurobank Group’s real estate portfolio. This agreement marks the continuation of the longstanding cooperation between Eurobank Group and Cerved Property Services, enhancing a wide range of services that have been successfully provided since 2019.
Furthermore, our Partner Theologos Mintzas, supported by Associate Elisabetta Lentsiou, advised one of the systemic banks on the successful execution of two service level agreements for the management of the credit institution’s repossessed real estate assets with two separate asset managers. In addition, Theologos Mintzas and Elisabetta Lentsiou assisted an investment management firm with the successful execution of an asset management agreement, ensuring the effective day-to-day strategic management of a portfolio of assets owned by a Greek systemic bank.
POTAMITISVEKRIS’ involvement in these transactions highlights the trust our clients place in our expertise and our ability to manage complex and prolonged negotiations.

We’re proud to announce that our firm served as Greek counsel to Blackstone and HIP in the landmark acquisition of the owning company of Grand Hyatt—one of the largest transactions in the Greek hotel sector in recent years. This achievement is a testament to our team’s dedication and deep expertise in the hotel industry and the broader real estate sector.

The transaction was led by Partner Theologos Mintzas, supported by Associate Marina Fyrigou Koulouri. Partner Dimitris Loukas managed the notification to the Hellenic Competition Commission, supported by Senior Associate Athanasios Taliadouros. Partner Alexandros Metallinos spearheaded the financial aspects, with the assistance of Associate Nikos Stefas. Spiros Tassis led the data privacy components, supported by Senior Associate Panagiota Kelali, and Senior Associate Nikolas Sigkridis managed the employment law aspects, supported by Associate Yannis Ragos.

We extend our warmest thanks to all team members who contributed: Valia Anastasopoulou, Ilia Boura, Kassiani Flaouna, Virginia Kaklamanis, Konstantina Markomichali, Marianna Papandreou, Sofia Tsipouridi, Nikos Santas, and Glafki Setta. Their collective efforts were instrumental in ensuring the success of this significant transaction.

We are pleased to announce that our law firm successfully advised Sani Development and Tourism Company S.A. on a landmark transaction with the Hellenic Republic Asset Development Fund for the development of the “Sani Kassandra” property in Halkidiki. The transaction marks the beginning of a significant investment in an area renowned for its exceptional beauty and high tourism potential. This achievement was made possible through the expertise of our team, led by Partner Theologos Mintzas, with the valuable assistance of Associates Anastasia Bolari and Valia Anastasopoulou.

We are happy to announce that our law firm supported HERACLES Group, a member of Holcim in the negotiation and execution of the agreement for its acquisition of Larsinos SA, a landmark transaction in the Greek cement and quarry industry. Our team is led by Partners Vassilis Stergiou (M&A), Dimitrios Loukas (Competition), and Theologos Mintzas (Real Estate & Environment), and supported by Associates Nikolas Sigkridis, Kostas Manikas, Ioanna Kefaloniti, Ilia-Aikaterini Boura, Anastasia Bolari, Marialena Papageorgiou, Elisabetta Lentsiou, Nikoleta Nikolaou, and Elena Theodoropoulou.

Theologos Mintzas (Partner) and Anastasia Bolari (Associate) supported the consortium of European Finance & Aerospace Ventures SA, Blacksummit Financial Group and GEK Terna in the signing of the sub-concession agreement for the operation and maintenance of the Filippos B Port in Kavala. Dimitris Loukas (Partner) and Kostas Manikas (Associate) advised with regard to competition law issues. This was the first ever port sub-concession agreement in Greece and an important infrastructure transaction for the development of Northern Greece.

POTAMITISVEKRIS advised Piraeus Bank throughout the sale of the entire share capital of Piraeus Group’s leasing subsidiary, ‘Sunshine Leases’, including a, classified as held-for-sale portfolio of leasing Non-Performing Exposures (NPEs), to Hellas Capital Leasing, a subsidiary of Bain Capital Credit.
POTAMITISVEKRIS led the transaction and advised on all matters related to Greek law.

Our team was led by Maria Perifanou, Partner together with Partner Theologos Mintzas (for real estate issues) assisted by Associates Palmyra Chantzara and Evangelia Natsi.

We are happy to share that our law firm advised HRADF in the successful tender process for the sale of a majority stake in Volos Port Authority, a critical infrastructure privatization for the economy of Thessaly and Greece in general. Our team was led by Partners Alexandros Kortesis and Theologos Mintzas who were assisted by Associates Fay Karkantzou, Evgenia Tzavara, Anastasia Bolari, Ilia Boura, Nikoleta Nikolaou and Katerina Mastrogiannopoulou. Great teamwork that brought a great result for @HRADF.

We are happy to announce that our law firm supported HERACLES Group in the negotiation and execution of the agreement for its acquisition of Larsinos SA, a landmark transaction in the Greek cement and quarry industry. Our team is led by Partners Vassilis Stergiou (M&A), Dimitris Loukas (Competition), and Theologos Mintzas (Real Estate & Environment), and supported by Associates: Nikolas Sigkridis, Kostas Manikas, Ioanna Kefaloniti, Ilia Boura, Anastasia Bolari, Marialena Papageorgiou, Elisavet Lentsiou, Nikoleta Nikolaou, and Elena Theodoropoulou.

Our real estate team, led by Partner Theologos Mintzas, and assisted by Associate Ioanna Kefaloniti, supported the consortium of Dimand and Premia Properties in the acquisition of Alpha Bank’s Skyline Portfolio. The transaction involves 573 properties, with a gross surface of 500.000 sqm, and has a value of approx. 440 mil Euro, making it one of the largest, if not the largest, open market real estate transaction of recent years in Greece, with unique urban development potential. All assets will pass under a new entity in which Dimand and Premia will participate with 65% and Alpha Bank with 35%, while the properties will be managed by Alpha Real Estate, a novel structural approach which paves the way for similar future transaction structures.

We are happy to announce that the landmark privatization of the ex-US military base in Gournes, Crete has now been completed. Our Real Estate team, led by Partner Theologos Mintzas, supported the Hellenic Republic Asset Development Fund (HRADF / ΤΑΙΠΕΔ) throughout the tender process until its successful completion, which marks the start of the largest tourist and commercial land development in Crete.

We are happy to announce that our firm advised the preferred bidder of the tender process initiated by the Greek State and the Hellenic Republic Asset Development Fund for the long-term lease of the Larco metallurgical plant in Larymna, as well as of the tender process initiated by Larco’s Special Administration for the sale of certain assets and metallurgical rights of Larco. Despite the difficulties it has been facing in recent years, Larco remains one the largest producers of ferronickel in the world and the forthcoming transactions are critical for the sustainable revitalization of ferronickel production in Greece. Our team was led by Partner Theologos Mintzas, and included Senior Associates Alexia Tzouni, Dimitra Rachouti, Nickolas Sigkridis, as well as Associates Iliana Nikolaidi, Anastasia Bolari, Ioanna Kefaloniti, and Konstantina Markomichali.

Aspasia Malliou, supported by associates Dimitra Katsipi and Charis Stampoulis, has succeeded in issuing nine decisions before the Council of State, which will lead to €2,77 million refund on real estate transfer tax for a leading credit institution of Cyprus. With its decisions, the Council of State upheld the judgment of all the Administrative Courts of First Instance of the country, which mandated the relevant tax refund.

We are happy to announce that our firm supported Sani/Ikos Group with all Greek law related aspects regarding the sale of a majority stake to the Singaporean sovereign wealth fund GIC. A landmark deal which valued Sani/Ikos Group at €2.3bn, the biggest deal in the European hotel sector since the Covid-19 pandemic. Our team was led by Partners George Bersis and Theologos Mintzas who were supported by Eirini Zaglanika (IP), Anastasia Platipodi (Employment), and Ioanna Loudarou (Finance).

Our Real Estate team assisted an international fund in the acquisition of a majority stake in a company holding two marina concessions in the eastern Peloponnese. The team assisted in the due diligence as well as in the negotiations and conclusion of the contractual documentation. Partner Theologos Mintzas, who was assisted by Associate Anastasia Bolari, lead the effort.

Co-Managing Partner George Bersis and Senior Associate Amalia Balla advised one of the largest owners of hotel resorts in Southern Europe on the complex acquisition of a company owning and operating a hotel resort, situated in Elounda, Crete, following its demerger. The team was joined by Partner Theologos Mintzas and Associate Anastasia Bolari, who advised on the negotiations regarding the refurbishment and management of the resort.

George Bersis and Amalia Balla advised a REIC on the signing of a MoU with a big developer for the joint acquisition of land plots in the western suburbs of Attica, and co-development of a big logistic center.

POTAMITISVEKRIS has advised a Greek REIC on the acquisition of a company owning and operating one of the biggest retail parks in Greece, located in Pylaia Thessaloniki.
George Bersis, Co-Managing Partner and Amalia Balla, Senior Associate, successfully led the Real Estate team of this project.

POTAMITISVEKRIS has advised a Greek REIC on the acquisition of a retail park under development, located in Neo Faliro, Attica.

The transaction was led by George Bersis, POTAMITISVEKRIS Co-Managing Partner, and Amalia Balla, Real Estate Senior Associate

POTAMITISVEKRIS has advised a Greek REIC on the acquisition of a company owning and operating one of the biggest retail parks in Greece, located in Pylaia Thessaloniki.
George Bersis, Co-Managing Partner and Amalia Balla, Senior Associate, successfully led the Real Estate team of this project.

We are happy to announce that today the landmark privatization of the North Afantou property in Rhodes, the largest real estate privatization after Hellinikon, was finally completed. Partners George Bersis and Theologos Mintzas have been assisting the Hellenic Republic Asset Development Fund with the tender process and throughout the challenging road towards the completion of the privatization.

George Bersis and team acted as legal counsel in the €75m share capital increase of listed company active in the real estate development sector. The share capital increase was successfully subscribed in total through contributions in kind and cash payment.

George Bersis and team acted as legal advisors to a leading international travel and tourism group for the sublease of two five-star hotels in Syvota and Lemnos. The transaction was completed on 30.12.2020.

George Bersis and team advised a leading hotel platform on the acquisition of a company owning a landmark beachfront land plot in Corfu and on the financing of the transaction.

George Bersis and team advised one of the oldest Greek museum organisations on the sale of eight building plots to a joint venture of international real estate investors. The transaction is of great significance for the Greek urban real estate market and one of the largest during the COVID-19 crisis.

George Bersis, Aspasia Malliou along with their teams advised leading Greek Real Estate Investment Company on the acquisition of four hyper-markets of total surface of 90.000 sqm. approximately, fully leased and operated by a big retailer, against the total purchase price of Euro 119,16 mio, in execution of a binding notarial pre-contract entered into by the sellers and the buyer in March 2019.

Euripides Ioannou and his team advised an Argentinean fund on the sale of four companies to a listed REIC. The four companies own office buildings located in Athens, Marousi, Kifissia, and Argyroupoli, with a total surface area of approximately 21,700 square meters. The total value of the assets of the four companies amounts to €27.800.000.

George Bersis and team advised a member of the Alpha Bank SA group of companies in banking sector on the sale of a company to a listed REIC and a real estate and development group of companies. The company owns a property of approx. 11,400 square meters in Chania, Crete. The total value of the transaction was approx. €8.7 m.

George Bersis and team advised a bank liquidator on the sale through an open tender of commercial real estate properties with an aggregate value of EUR 28.5m.

Euripides Ioannou and team represented the financing banks in the context of the negotiation and implementation of an investment and debt restructuring agreement for one of Greece’s cured meat companies. The project involved, among other things, a €20 million investment in the company’s share capital by a third party investor which is one of Greece’s largest food companies, a restructuring of debt valued at approximately €81 million and a debt to asset swap of a commercial real estate property located in Athens, Greece.

Euripides Ioannou and team represented one of Greece’s systemic banks in the context of a €30m debt refinancing for the further development of one of the country’s landmark luxury hotel resorts located in Argolida.

George Bersis and team advised a foreign bank on the process for carrying out international tenders and the sale of three hotels in Greece. Konstantinos Papadiamantis and team represented the bank on the complex open litigation issues in need of resolution for the transaction to go ahead.

Vicky Psaltis and team advised a foreign real estate fund on the c.€14m sale of a 12,000sqm office building in the centre of Athens.

Euripides Ioannou and team advised a foreign fund on a number of multimillion euro commercial real estate acquisitions, including the purchase of a 6.000 m2 office building in the centre of Athens and the purchasers of two further commercial real estate assets.

George Bersis and team advised the preferred bidder in a lease-back transaction of state owned properties valued at €145m.

George Bersis led the team advised a foreign private equity fund on the acquisition of two hotels and their related financing.