Reed Smith has advised the EBRD on a EUR 55 million loan to Invel Real Estate to support its purchase of a 32.7% stake in Pangea from the National Bank of Greece. Papapolitis & Papapolitis advised Invel.
Pangea, which is listed o the Athens Stock Exchange, is the largest real estate investment company in Greece, focused primarily on providing liquidity to construction sectors and development companies in the region. With the acquisition, Invel's total investment in Pangea is expected to exceed EUR 1 billion.
The Reed Smith team was led by Partners Panos Katsambas and Kevin-Paul Deveau and Associate Sally Koo.
The Papapolitis & Papapolitis team was led by Partner Nicholas Papapolitis and included Partner Nikolaos Katsaros, Counsel Alkis Mirkos, Senior Associate Elmina Chadio, and Associate Vanessa Kapnoutzi.