BAKU, Azerbaijan, December 23. The European Bank for Reconstruction and Development (EBRD) is investing 21.7 million euros in the P&E Investments Axiopoiisis & Anaptyxis Akiniton consortium in Greece, Trend reports.
The EBRD will acquire a 20 percent share of the consortium, which includes Dimand and Premia Properties, long-time partners of the bank.
The investment will fund the purchase of shares in Skyline, a newly established special purpose vehicle holding a portfolio of approximately 460 commercial and residential properties. These properties are intended for redevelopment, repositioning, or trade sale. Dimand will control the 65 percent stake in Skyline, with Alpha Bank holding the remaining 35 percent.
This project aims to redevelop key assets, improving their specifications and value, while enhancing the functionality of properties in primary and secondary cities. The initiative will also create opportunities for retail investors to fund existing building stock.
Sustainability is a key focus, with the project promoting resource efficiency, green leases, and energy and water efficiency. The redeveloped properties are expected to meet stringent green building standards, such as LEED Gold or BREEAM Very Good.
Additionally, the project will adopt global environmental, social, and governance (ESG) benchmarks, including GRESB reporting standards.
Since its temporary operations began in Greece in 2015, the EBRD has invested over 8 billion euros in 116 projects across various sectors, including corporate, financial, energy, and infrastructure.