Grivalia buys Amanzoe hotel in 80 mln euro deal

Grivalia buys Amanzeo hotel in 80 mln euro deal

Real estate investment company Grivalia Properties has purchased a majority stake in hotel complex Amanzoe from Dolphin Capital Investors in a deal worth more than 80 million euros, it said on Thursday.

Via its hospitality subsidiary, Grivalia has agreed to buy Amanzoe, along with Dolphi Capital Partners, for 5.8 million euros and take on its debts amounting to 76.5 million euros. Grivalia will hold 85 percent and Dolphin Capital Partners the remaining stake.

Amanzoe is the first complex development of a hotel compound together with luxury villas designed and implemented by Dolphin Capital Group in Porto Heli, in the eastern Peloponnese.

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"Based on the agreement of the parties, Dolphin will continue its successful management of Amanzoe by focusing on the development and sale of new villas and the introduction of new concepts that will create the necessary conditions for extending its seasonality," Grivalia said in a statement.

Amanzoe spreads over an area of approximately 1 million square meters and consists of a total built and buildable surface of approximately 69,000 squre meters, including a hotel, a spa and beach villas.