Invel Real Estate and Prodea Investments acquire luxury hotel in Milos, Greece
Invel Real Estate (“Invel”) and Prodea Investments (“Prodea”) have acquired White Coast Pool Suites, a five-star luxury hotel on the Greek island of Milos.
The hotel, located near Sarakiniko beach, has a total of 30 suites, each offering a private pool and uninterrupted sea view. Invel and Prodea will invest meaningful capital to expand the hotel, transforming it into one of the leading private-pool hotels in the Aegean whilst preserving the natural beauty of the Cycladic landscape.
Currently branded as Small Luxury Hotels of the World, the property will be operated by Domes Resorts, an award-winning luxury hotel operator.
The hotel is being acquired by Prodea Investments (49%) and Invel Real Estate (51%) through its discretionary fund “Invel Eudora Fund 1LP” (“Eudora 1”).
Eudora 1 was launched in June 2021 and, following the acquisitions of White Coast Pool Suites and Hotel Bellevue in Cortina d’Ampezzo in 2022, is now fully invested. Invel is now embarking on the launch of “Invel Eudora Fund 2 S.C.S, SICAV-RAIF”, a closed-end fund targeting real estate investments with an opportunistic strategy.
Alexis Pipilis, Invel’s Head of Acquisitions in the Hellenic region, said: “This acquisition is a testament to our expertise in identifying and acquiring luxury hospitality assets in outstanding locations in Southern Europe. It follows our acquisition of the Bellevue in Cortina d’Ampezzo and demonstrates our ability to source unique opportunities within these markets. We look forward to progressing our plans to realise the full potential of this resort on the truly majestic island of Milos, which was voted the best island in the world in 2021”.