WOOD Flash – Grivalia: acquires EUR 82m luxury resort in Greece through its hospitality subsidiary
Grivalia has announced that its subsidiary, Grivalia Hospitality, has acquired Amanzoe, a luxury hospitality complex with a hotel and villas operated by Aman Resorts, in Greece, from Dolphin Capital Investors (DCI), from whom Grivalia acquired the Pearl Island in Panama in early-2017. Grivalia is purchasing an 85% stake, and Dolphin Capital Partners (DCP), the founding shareholders of DCI, are purchasing a 15% stake. The net consideration to be paid to DCI by the purchasers amounts to EUR 5.8m. In addition, the purchasers will assume all of Amanzoe's existing loan obligations, amounting to EUR 76.5m.Grivalia Properties Real Estate Investment is an investment property group with a major portfolio in Greece and an expanding portfolio in Southeastern Europe. Co.'s business is leasing out investment property under operating leases and is classified as a real estate investment vehicle under Greek Law 2778/1999. Co.'s investment strategy, aims at increasing its revenues and returns and towards creating added value for its shareholders. Co. is seeking to achieve this goal through: analytical follow up and monitoring of the macro-economic indicators; active management of its portfolio of assets; continuous monitoring of the portfolio's risk and the efficient management.
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