Invel, an independent real estate investment and asset manager with a global reach, and Prodea, a leading real estate investment company in Greece, recently announced the acquisition of White Coast Pool Suites, a five-star luxury hotel on the Greek island of Milos.
Currently under the “Small Luxury Hotels of the World” brand, Invel will acquire the majority stake in the property (51 percent) and Prodea will acquire 49 percent. The hotel will be acquired through the discretionary fund of Prodea and Invel known as “Eudora 1” that was launched in June 2021.
Located near Sarakiniko beach on Milos, the hotel has a total of 30 suites, each offering a private pool and sea view. It will be operated by Domes Resorts, an award-winning luxury hotel operator.
“This acquisition is a testament to our expertise in identifying and acquiring luxury hospitality assets in outstanding locations in Southern Europe,” Alexis Pipilis, Invel’s Head of Acquisitions in the Hellenic region, said.
Invel and Prodea intend to invest significant capital to expand the hotel and transform it into one of the leading private-pool hotels in the Aegean whilst preserving the natural beauty of the Cycladic landscape.
“We look forward to progressing our plans to realise the full potential of this resort on the truly majestic island of Milos, which was voted the best island in the world in 2021,” Pipilis added.