A partial subsidiary of the Grivalia Properties Real Estate Investment S.A., Grivalia Hospitality, is reportedly targeting a figure of 100 million euros in capital in order to inaugurate a high-end hotel and resort portfolio of tourism properties in Greece.
According to Grivalia Real Estate CEO and executive board member George Chryssikos, during a briefing of institutional investment fund analysts, the parent company’s primary shareholders – Fairfax, Fidelity, Wellington Management and others – have committed to covering the 100-million-euro investment capital, although the company will also “test the waters” for other major investors.
The first phase, in terms of proposed business activity, will be to evaluate possible property purchases.
Grivalia is participating in Grivalia Hospitality’s share capital with 25 million euros, while also hosting the latter on its platform.
