After 12 years of ownership through Greece's debt crisis and pandemic, Invel Real Estate has exited its landmark investment in the property arm of the National Bank of Greece. The Athens-based firm, founded by former Deutsche Bank executive Chris Papachristophorou, achieved a significant milestone by selling its stake in NBG Pangaea Real Estate Investment.

In 2013, Invel stewarded a club of investors in acquiring a two-thirds stake for €653 million, marking one of Greece's largest real estate transactions during the financial crisis. The deal established Invel as a major player in Greek commercial real estate and demonstrated confidence in the country's distressed assets at a time when many investors were retreating.

The exit validates Papachristophorou's contrarian strategy of investing in Greek real estate during its darkest economic period. The successful exit from NBG Pangaea represents a major win for opportunistic real estate investing in distressed markets and positions Invel to deploy capital in new opportunities as Greece's economy continues recovering.