The agreement, which is subject to customary closing conditions, provides for a consideration of approximately $190 million.

The plans of the new Israeli owners of Brown Hotels.

The two companies have been collaborating in the field of real estate investment since 2017.

The portfolio under divestment accounts for in excess of 51% of the company’s aggregate asset value.

Scheduled for completion by Easter 2026, marking the reopening of Thessaloniki’s iconic landmark.