Debitos GmbH is expanding to Greece with Delfi Partners & Company: The Frankfurt based online credit marketplace starts a cooperation with Delfi Partners & Company, one of the largest asset managers in the region. In the course of the expansion into the Greek market and in connection to the cooperation with Delfi Partners, Debitos launches a new asset class: starting in September, real estate and in particular REOs (Real Estate Owned) will be traded by Debitos Europe-wide. “In Greece and all over Europe, many banks have had to repossess assets through consensual out of court agreements and/or through foreclosures. From now on, these assets can also be traded on our marketplace in cooperation with Delfi Partners”, says Timur Peters, CEO and founder of Debitos.
Delfi Partners, the Greek asset manager, has now been entrusted with the sale of 3,000 properties.
In particular, foreign investors are very interested in the Greek property market after the first indications Greece could achieve a significant economic turnaround. Addressing investors will primarily be carried out by Delfi Partners, as they are established in the Greek market and have the required network and technical know-how. However, we also have a long list of institutional investors in our pool, who are interested in these assets”, continues Peters.
Delfi Partners was founded in 2013 in London. Currently, assets under management are in excess of €5bn. For CEO Dr. George Mountis, finding alternative distribution channels and selling via an online marketplace is substantially advantageous: “The digitalisation of transaction processes is the future. It introduces speed, efficiency and transparency, which have traditionally been a major challenge in this region. In association with our asset management platform and our investor universe, we are confident that we can achieve our Client’s aggressive targets through portfolio REO auctioning and introduce new players and a new dynamic into the market”, says Dr. Mountis.