Premia to acquire two hotels in Greece from Nordic Leisure Travel Group

Greek real estate investor Premia Properties has entered into an agreement to acquire the four-star, 534-room Sunwing Kallithea Beach hotel in Rhodes and the four-star, 262-room Sunwing Makrigalos & Ocean Beach Club hotel in Crete. Both of the Greek hotels were acquired from a subsidiary of Swedish tour operator Nordic Leisure Travel Group (NLTG) for a total consideration of €112.5 million (€141,000 per room). NLTG will continue to manage the assets, under a 15-year, triple-net lease agreement with a 10-year extension option. The sale and leaseback deal, which is expected to close by year-end, will be financed with a mix of the company’s own equity and using a corporate bond underwritten by the National Bank of Greece. NLTG’s three largest shareholders are Stockholm-based Altor Funds (39.7%) and Strawberry Group (37%), along with London-based TDR Capital (19.9%). 

Atom divests Exe Coruna hotel in Galicia, Spain

Spanish REIT Atom Hoteles SOCIMI has sold the four-star, 181-room Exe Coruna hotel in A Coruna, Spain, to a private investor, for €17.2 million (€95,000 per room). The asset is located in the north-western part of the country, on the Galician coast. It is situated in A Coruna’s town-centre, a 15-minute walk away from its main beach Praia de Riazor. The hotel is currently under the management of the domestic Hotusa Group, and was last renovated in 2020, prior to which it was trading as the Tryp Coruna. Atom has sold the hotel as part of an asset-rotation scheme, having also disposed of the Labranda Costa Mogan in the Canary Islands earlier this year. Atom’s portfolio totals 27 hotels comprising roughly 6,600 rooms primarily located in Spain.

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