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Greece Seeks $508 Million by Securitizing Real Estate

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The Greek fund charged with selling state assets will attempt to raise 400 million euros ($508 million) by securitizing real estate in a move designed to attract investment to the debt-stricken country.

The Hellenic Republic Asset Development Fund will sell shares in a company with about 300 properties ranging from retail, office and tourism-related real estate including land for development, Andreas Taprantzis, the fund’s executive director, said in an Oct. 8 interview in his Athens office. The company will then sell debt backed by the properties.