The deal between private equity firm Invel Real Estate and Amathus Beach Hotel on the island of Rhodes is set to go down in ink in April at a price tag of 30 million euros, Greek daily Kathimerini reports.
Leisure Holding SA, the shareholders of the 326-room Rhodes luxury hotel, has accepted Invel’s binding offer. The London-based firm is now awaiting the finalization of the deal.
Invel Real Estate paid over 600 million euros for a majority stake in the National Bank of Greece’s (NBG) real estate unit Pangaia last year.
Established in March 2013, Invel is a limited liability partnership, owned by the Partners, the Managing Partner of which is Chris Papachristophorou, formerly a Managing Director of Deutsche Bank and Global Head of RREEF Opportunistic Investments. Invel is London-based, UK registered and invests in European real estate.