Investments
Pangaea recently proceeded with the signing of a preliminary agreement for the acquisition of three warehouses under development with modern specific actions in Aspropyrgos, Attica.
The two firms bought stakes in Invel Real Estate Partners, a private equity fund that owns a 65 percent stake in Pangaea.
The renowned "Asteria" Hotel, which used to operate within the property, is planned to be fully upgraded into an ultra-luxury urban resort run by an internationally acclaimed hotel operator.
In an announcement, Pangaea said it will invest €1.3 million to fully restore the building, raising its investment to €7million.