Mount Street Group announces strategic partnership with Technical Olympic S.A.
Mount Street Group is pleased to announce a strategic partnership in Greece and Cyprus with Technical Olympic S.A., a leading Greek real estate, construction and investment group listed on the Athens Stock Exchange.
As part of the partnership, and through its subsidiary PFC Premier Finance Corporation Ltd (Cyprus), Technical Olympic has entered into a Memorandum of Understanding to acquire a stake in Mount Street’s businesses in Greece and Cyprus including its real estate, credit advisory and loan servicing regulated business in Greece. The agreement is subject to final documentation and regulatory approvals in Greece, including Bank of Greece approval.
Mount Street Hellas will be supporting the acceleration of the capital deployment programme of Technical Olympic S.A. through debt and equity investments across a range of asset classes primarily focusing on commercial real estate, hospitality, shipping and SME’s. Similarly, Technical Olympic and entities related to its anchor shareholders, the Stengos family, will be committing capital to co-invest alongside Mount Street and/or its other capital partners across single credit and loan portfolio investments across a range of opportunities originating primarily in Greece and Cyprus.
Mount Street Group CEO, Ravi Joseph, noted: “We are excited to be partnering in two of the most promising NPL markets in Europe with a highly established and long-term investment group such as Technical Olympic and its anchor shareholders. Our new partners’ strong experience deploying capital in the local real estate, hospitality, construction, as well as shipping sectors will help Mount Street and its capital partners unlock unique opportunities in the Greek and Cypriot markets.”
Technical Olympic CEO, George Stengos noted: “Our partnership with Mount Street is a key part of our capital deployment program across a range of sectors and investment strategies. We are also excited about making a strategic investment in its Hellenic credit and real estate advisory and loan servicing businesses to accelerate the growth of Mount Street Hellas and about co-investing alongside Mount Street and in alignment with its other global institutional sponsor clients and partners across single name and portfolio investments in Greece, Cyprus and potentially further afield.”
Mount Street Group is a leading global third-party loan servicing and credit asset management firm with ca €80bn placed in its care. Mount Street has been recognised as a leading real estate loan servicer and among the fastest growing companies in Europe. Leveraging technology and a global presence across 10 offices in key financial centers such as London, New York, Madrid, Atlanta, Dublin, Hamburg, Dusseldorf, Athens, Sydney and most recently Kansas City, Mount Street has built a global team of seasoned banking, real estate, infrastructure, shipping and technology professionals to assist institutional investors in capturing value across the lifecycle of their credit and other investments.
Founded in 1967, Technical Olympic S.A. is a leading diversified Greek holding and investment group active in the construction, real estate, hospitality, infrastructure and shipping sectors. It has been listed in the Athens Stock Exchange since 1994 and is a constituent of the ASE General Index and the FTSE ASE Mid Cap index.
For more information, please contact:
Head of Mount Street, Greece & Cyprus
tel: +30210 010 166