Dromeus fund looking to invest in Greek commercial property

Dromeus Capital, an emerging markets hedge fund firm, plans to invest 200 million euros in Greek commercial real estate through the launch of a new fund, taking advantage of undervalued properties, executives told Reuters on Monday.

The new investment vehicle, the second Greece-focused fund launched by Dromeus, will seek to acquire office properties in prime central Athens locations which currently offer good investment opportunities for buyers.

Greek Advantage, Dromeus' first fund launched in October 2012 has returned an annualized 15.2 percent since its launch.

"The Greek economy is showing signs of recovery and Greek real estate has a highly asymmetric risk-return proposition," said Achilles Risvas, CEO of Dromeus.  [Reuters]