London-based Real Estate Fund Adds Rhodes Lux Hotel to its Roster

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.