The property is located on Syngrou Avenue, one of Athens’ most important business and development axes, historically recording strong demand and strategic significance for the city’s hospitality market. This particular transaction is part of CIG’s broader investment plan to strengthen and enhance the quality of its portfolio.
The acquisition was carried out as a sale & leaseback, ensuring the continued operation of the hotel without any changes to the existing operational and management framework. In this way, the operational stability of the asset is maintained while its long-term investment value is enhanced.
In a statement, Marita Karatzi, CEO of CIG, emphasized:
"This acquisition reflects Cretan Investment Group’s strategy to invest in hospitality properties with strong fundamental characteristics, long-term return potential, and resilience over time. We remain committed to creating value through targeted investments and a clear management strategy."
Cretan Investment Group is engaged in the acquisition, development, and strategic utilization of hospitality properties in selected locations, following an investment philosophy focused on long-term value, stable returns, and the creation of resilient investment structures. It serves as the investment arm of MK Hotel Collection, which holds a diversified portfolio of hotel units and tourism properties, with a primary geographic focus on Crete and a presence in both resort and urban projects.
The Group’s key assets include Unique Blue Resort & Villas (5 properties, 120 rooms) in Amnissos, Pnoé Breathing Life (60 rooms) and Cicada Suites (6 suites) in Karteros, as well as Elios Hill (275 rooms) in Hersonissos. Additionally, the Group has expanded into branded residences through MK Residences, which include Rua Augusta in central Heraklion and the Agia Pelagia villa complex, while the portfolio is complemented by Cicada Seaside Experience, an all-day restaurant and lounge on Karteros Beach.
Finally, the development of MK Club supports the long-term value of the brand, enhancing synergies and portfolio coherence within MK Hotel Collection, at a time of increased investment interest in the Greek hospitality sector.
