The Ministry of National Economy and Finance announced the start of the 2nd round of dialogue for the property acquisition and re-leasing body which will be selected by the state following a public international tender.
This body, which will be private, buys the debtor’s 1st residence and is obliged to lease it to the citizen for 12 years. In this way, evictions are avoided, which would occur if a third party acquired the property.
The operator, during the 12-year lease and until its expiry, is obliged to resell the residence to the citizen, as long as he recovers financially and as long as he is consistent in paying the rent. The State (OPEKA) provides a monthly rent allowance to the citizen to help him stay in the residence.
What regarding the Real Estate Acquisition and Leaseback Agency?
The Ministry of National Economy and Finance announced that the 2nd Round of the Dialogue begins, through the notification of a draft concession contract to the pre-selected investors, in accordance with the specifics defined in the tender’s contractual documents.
It is recalled that according to the approval of the Minutes of the Tender Implementation Committee from 20.10.2022 and 07.08.2023 the economic entities participating in the process are:
- «Bain Capital Credit»,
- «Christofferson, Robb & co, LLC»,
- «Fortress Credit Corp.»,
- Association of Companies “KAICAN Hellas – Beaumont Summit Financial DAC”,
On 21.12.2023, in the context of Phase B (“Dialogue”) of the Tender for the Real Estate Acquisition and Leasing Agency of Law 4738/2020, pre-selected investors were brought to the attention of the pre-selected investors through the E.S.H.I.D.S. system. and additional information. Among them the revised document of basic contractual terms (term sheet), which incorporates the findings of the meetings held between the contracting authority and the pre-selected investors in the context of the 1st Round of the Dialogue, but also the recent legislative amendments for the Agency, with the law. 5072/2023.
According to iefimerida, in the next phase the process of submission of binding offers by the prospective investors will take place, from which the contractor to whom the tender will be awarded will emerge.
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