AXIA Ventures: Financial Advisor to Alpha Bank in relation to the deal with Dimand – Premia

Alpha Services and Holdings S.A. (“Alpha Holdings”), the 100% parent company of Alpha Bank S.A. (“Alpha Bank”) announced yesterday that, Alpha Bank, through its 100% subsidiary Alpha Group Investments Limited (“AGI”), has successfully entered into a definitive agreement with a consortium comprised of Dimand S.A. and Premia Properties REIC (the “Investor Consortium”) for the formation of an equity partnership in the Greek real estate space, through the sale of a €438 million real estate portfolio (“Project Skyline”). AXIA Ventures Group (“AXIA”) acted as Financial Advisor to Alpha Bank in relation to Project Skyline.

Project Skyline represents the largest open-market real estate transaction in Greece in recent years and entails the formation of an equity partnership aiming on the commercialization, repositioning and development of a diverse real estate portfolio of 573 assets with gross area of c.500,000 sqm that includes offices, retail, residential and logistics/industrial assets (the “Real Estate Portfolio”). Alpha Bank Group will remain as tenant for certain assets, while the rest of the portfolio will be either developed and repositioned for rental use or sold directly to the market.

The agreement provides that Skyline Real Estate Single Member S.A. (“Skyline”), a newly formed SPV owned by AGI, will acquire in sequential steps the Real Estate Portfolio, valued at €438 million, while the Investor Consortium will acquire a controlling stake of 65% of Skyline’s share capital (the “Transaction”). The consummation of the Transaction is expected to take place by the end of Q2 2023.

Alpha Bank has agreed with the Investor Consortium the key terms of a long-term debt facility to Skyline of up to €240 million, which will cover part of the acquisition and redevelopment costs of the Real Estate Portfolio.

Alpha Astika Akinita S.A. (“AAA”), the listed real estate servicer of the Alpha Bank Group, will enter into an initial 7-year exclusive Asset Management Services Agreement with Skyline. Benefitting from its long and successful track record, AAA will offer property and facility management, as well as agency, technical and project management services.

In its capacity as Financial Advisor to Alpha Bank, AXIA assisted the Bank in the preparation, structuring and overall execution of the Transaction as well as in the selection of the right partner through a very targeted and competitive process.

Mr. Alexandros Argyros, Managing Director & Head of Investment Banking of AXIA Ventures Group stated: “We are honored to be part of this truly landmark transaction for the Bank. Besides the inherent complexity of the Transaction, we managed to overcome the challenges of the global environment in recent months and make it successfully to the finish line. My sincere thanks and congratulations to the entire Alpha Bank team and everyone that was involved in this project”.

Mr. Zacharias Psyris, Director of AXIA Ventures Group stated: “We are very proud for our participation in the largest open-market real estate portfolio transaction in Greece in recent years and at the same time such an important and complex transaction for the Bank. From my end, I would like to thank the Alpha Bank team for the impeccable collaboration from the very beginning of this project as well as the members of our team for their dedication and hard work”.