The transaction, once closed, will significantly increase PATRIZIA’s current residential AUM of €16billion.

The total investment will be in the region of €35m and will be funded by the proceeds of the green bond that PRODEA issued in July 2021.

The participation of MOTOR OIL (HELLAS) S.A. in the joint scheme will be 51% while that of PPC S.A. will be 49%.

"We are expanding into the luxury hotel market," Aristotelis Karytinos told ered

Expected to open in summer 2022, W Costa Navarino is anticipated to mark the latest addition to the ever-expanding W Escapes portfolio in Europe following locations in Spain, Switzerland and Portugal.

The bid offered for this property was €2,351,000.

This project represents a viable and needed opportunity for Virginia to obtain clean renewable energy and realize its economic and environmental goals.