NBG Pangaea REIC purchases 60% stake in Aphrodite Hills and Springs resort
NBG Pangaea REIC purchases 60% stake in Aphrodite Hills and Springs resort
  REIC  |  Hotels  |  Europe

NBG Pangaea REIC purchases 60% stake in Aphrodite Hills and Springs resort

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RE+D magazine
03.04.2019

National Pangaea REIC on Wednesday announced the acquisition of a 60 pct majority equity stake in Aphrodite Hills Resort Limited and Aphrodite Springs Public Limited in Paphos, Cyprus for 31.8 million euros.

The Aphrodite Hills Resort covers an area of 234 hectares and has the PGA National Cyprus golf course. Aphrodite Springs covers an area of 150 hectares, next to the Aphrodite Hills Resort, and has a license to develop a golf course and a complex of holiday residences and other real estate property.

National Pangaea said this investment was a strategic, long-term investment together with Invel Real Estate and Coller Capital.