By L. Karageorgos
[email protected]
US-based Hines, one of the biggest real estate investment funds in the world, has acquired the iconic Athens Ledra Hotel for 33.05 million euros.
Hines submitted the sole bid at an auction held on Wednesday by lien-holder Alpha Bank.
According to sources that spoke to “N”, inspectors from the fund had repeatedly visited the now closed hotel over the recent period.
A first auction for the property last year was declared null and void, as a starting price of 47.8 million euros failed attract any interest.
Hines’ portfolio includes 533 properties around the world, with the Ledra set to become its first real estate holding in Greece.
The Ledra Athens had for years been a franchise holder under the Marriott brand, although charting an independent course over recent years.
