Canadian investment firm Fairfax Financial Holdings will raise its stake in Greek real estate firm

The National Bank of Greece administration gave the green light for the investment property section of the financial institution to be separated from its other activities, creating a new REIT called NBG Paggaia REIC. The new company's IPO is expected in 2010 while its property portfolio is estimated at €1 bn, which leveraged will reach €1.5 bn.

Pireaus REIT is renamed to Trastor, a decision announced today at the company’s general meeting.

Mr. Kyriakos Evangelou will manage ORILINA as the CEO.

Trastor REIC on Thursday announced the purchase of a real estate asset in Halandri, Attica, for 4.0 million euros.

The price for the acquisition of the property amounted to €4.28millionn.

The Transaction must be completed by March 29, 2019 (Long Stop Date) or at a later date if agreed in writing between the parties.

The merger is capital and earnings accretive; fully loaded CET1 increases to 13.8 pct and pre-provision income to 0.28 euros per share.

The total surface area of the property is 1,600.06sq.m.

The acquisition price offered by the Company is €1,070,000.