Major move for Briq Properties, buys Paros hotel for 3.5 mln euros

Briq Properties branches out into hotels with 3.5 mln euro deal

Real estate investment company BriQ Properties is branching out into the hospitality business, acquiring a four star hotel in Paros for 3.5 million euros. The deal represents a major move for BriQ Properties, which has up until now has a portfolio of nine buildings located in Athens only.

The new hotel, called Mr & Mrs White Paros, is a luxurious 4-star hotel located in Naoussa, the main town of Paros. It is located 800 meters from the center of Naoussa and is one kilometer away from the nearest beach. The hotel consists of three separate properties with a total land area of 4,468 square meters and has 49 rooms, 2 swimming pools, a restaurant, a pool bar and a lounge area.

Mr & Mrs White Paros is leased to HotelBrain Capital S.A., a subsidiary of hotel managers HotelBrain S.A.

"This acquisition is the first investment of BriQ Properties in the field of hospitality, a real estate sector that we want to invest in. We are particularly pleased that this investment is part of a strategic partnership with HotelBrain, an acclaimed company in hotel management," said BriQ Properties REIC CEO Anna Apostolidou.