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Lazart Hotel in Thessaloniki Sold for €7m

The Lazart Hotel. Photo © Greek Travel Pages (GTP)

NBG Pangaea Real Estate Investment Company on Monday announced the acquisition of the 5-star Lazart Hotel in Thessaloniki for 7 million euros.

The property is leased to Zeus International group, a fast growing hotel operator in Greece and the wider region.

“We are very pleased to have acquired a high quality city hotel like Lazart Hotel and for our cooperation with Zeus International,” Pangaea CEO Aristotelis Karytinos said.

Located very close to the heart of the city, opposite the renowned cultural center “Moni Lazariston”, the Lazart Hotel has 74 spacious rooms and offers luxurious accommodation.

“This investment is in line with our investment strategy to expand in the sector of hospitality and follows our previous investment in Patra, where the first Moxy by Marriott in the Mediterranean is expected to start its operations in the near term,” Karytinos added.

NBG Pangaea is a leading real estate investment company in Greece. Its real estate portfolio consists primarily of office and retail properties, located in prime urban areas throughout Greece, Italy and Romania.

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