NBG Pangaea REIC becomes PRODEA Investments

Invel Real Estate (“Invel”), an investment firm focusing on real estate and distressed debt opportunities across Europe, is pleased to share that PRODEA Investments is the new name for the real estate investment company formerly known as NBG Pangaea REIC.

 

With investments now exceeding €2 billion, the new brand reflects the company’s ambitions and evolution since its acquisition by Invel. The new name PRODEA draws upon the company’s focus on property, as well as its innovative, dynamic and experienced approach as the largest real estate investment company in Greece. This was celebrated in a well-attended event that had Stefanos Tsitipas, the youngest player ranked in the top 10 by the Association of Tennis Professionals, as guest of honour.

 

Invel made history in May 2019 when it became the largest ever investor in the Greek real estate market through its acquisition of a 32.7% stake in the business, taking its total investment to more than than €1 billion for a circa 98.1% shareholding.

 

Christophoros Papachristophorou, Invel’s Founder and Managing Partner and Chairman of the Board of Directors for PRODEA Investments,  said: “This milestone marks a new era for the company. Led by new shareholders and based on the solid foundation of the expertise and experience that our team has built over the years, the name PRODEA represents our ambitions for the company to be a leader in European real estate investment.”

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Media Enquiries:

For Invel:

Henry Columbine/Polly Warrack  t: +44 (0)20 3757 6890

Newgate Communications  e: invel@newgatecomms.com

Notes to Editors:

  • Invel Real Estate Management (“Invel”) was established in March 2013 to take advantage of opportunities in the European real estate markets by offering investors the ability to co-invest on a transaction-by-transaction basis.
  • Invel brings together a team of investment professionals with several decades of investment experience across real estate asset classes in Europe. Their combined transaction experience is in excess of €20bn of real estate gross asset value, having completed numerous landmark transactions with successful results.
  • Invel is headquartered in Jersey and, through its affiliated entities, has offices in the United Kingdom, Italy, Greece, Cyprus, Luxembourg and the Netherlands. Invel’s local presence and in-depth experience in selected European markets allows it to identify and efficiently execute a broad range of real estate investment opportunities.
  • Invel currently manages around €2.3bn of assets across Europe.