The newly acquired properties will be extensively renovated, LEED certified and operated as hotels by reputable operators. These acquisitions mark a major milestone in Blend's efforts to expand the company's ever-growing hosting portfolio.
The property at 74 Syngrou Avenue is to be converted into a four-star hotel, 2,300m2, with 50 rooms and two dining areas. The preserved face will be restored to its previous state. With an ideal location next to the Fix metro station, and proximity to the Acropolis Museum and the wider area of Koukaki, it is a unique location for serving international and Greek visitors to the capital.
The property at 30 Piraeus and Geraniou Streets, acquired by Prodea Investments, will be converted into a 32-room accommodation, with retail space on the ground floor. Work has already begun and the property will be operational in the 3rd quarter of 2025.
Additionally, the company is transforming a 5,000m2 building, at 54 Stadiou Street, into a four-star hotel with a capacity of 130 rooms. Construction work is ongoing and the hotel will be operational in 2025.
Mr. Paris Kallitsantsis, CEO of Blend Development commented: "Consistent with our strategy, we are proceeding with the expansion of our portfolio. We are happy that with the acquisition of two excellent properties in areas with great potential and perspective, we reaffirm our commitment to sustainable development and a lasting contribution to the effort to upgrade the center of Athens."
