Exclusive interview with RED featuring Nikita Kapustkin, Head of Development for Southern Europe at Hyatt.

The listed building was constructed by silk merchant Ioannis Michalopoulos and is a characteristic example of Athenian Belle Époque architecture.

The property comprises 57 serviced apartments in a prime location.

The total price amounted to €77,246,650, corresponding to a premium of 15% on the initial committed investment of GEK TERNA in the project.

The long-term lease agreement for the property concerns the beach and its facilities as they are and are located (as is, where is) for 20 years with the right to extend for an additional 10 years.

The new ready-made meal production and distribution facility will have a total surface area of 24,000 square meters.

The objective is to strengthen inbound tourism from Scandinavian countries.

The asset was sold for a net amount of €3.02 million, after brokerage fees.

In the future, the Platform is expected to integrate with real estate buying and selling platforms.