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Greece Seeks €35B Property Assets Sale

Greece is aiming to raise around €35 billion by selling state-owned real estate assets by 2015.

Greece is aiming to raise around €35 billion by selling state-owned real estate assets by 2015, Bloomberg reports. The plan by the Greek finance ministry is part of a €50 billion asset-sale program designed to reduce Greece’s debt.

The government is planning to value and register all state-owned commercial real estate assets and record them. Various Greek and international lenders will establish real estate investment portfolios grouping the assets and four of them will be presented by next year.

Click here for the story from Bloomberg.

Click here for additional coverage from The Wall Street Journal.

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