Jermyn Street Real Estate Fund IV LP acquired “Asteras” hotel complex
The Jermyn Street Real Estate Fund IV LP, which is managed by AGC Jermyn Street IV, has acquired the “Asteras” hotel complex in Vouliagmeni for about 400 million euros.
The fund, which represents investors from Turkey, Abu Dhabi, Dubai, Kuwait and other Emirates made the greatest offer in the TAIPED privatization competition for 90% of the hotel’s shares.
The other participants in the competition, TEMES of the Olayan Group, Colony Capital Acquisitions LLC and Dolphin Capital Investors LTD fell short, made offers between 240 and 310 million euros, which fell short of the Jermyn Street Real Estate Fund IV LP offer.
The TAIPED and National Bank of Greece director boards will convene this week in order to discuss the final decisions and details regarding the competition.