London, 15 June 2017 – Henderson Park, the European real estate investment platform, and Hines, the international real estate firm, have acquired the Athens Ledra Hotel (formerly the Ledra Marriott) in central Athens for €33 million. The asset was acquired at auction, and represents the first entry into the Greek market for both companies.
The prime central Athens hotel is located on 115 Syngrou Avenue, with 315 rooms across eight floors, and a rooftop restaurant and pool with panoramic views of the city and the Acropolis.
Nick Weber, founding partner of Henderson Park, said, “The Ledra hotel has a strong history of being amongst the top five star hotels in Athens, one of Europe’s top tourist destinations, and presents a significant repositioning opportunity. We have a strong conviction toward hotel investments, as demonstrated by our acquisition of Le Méridien Etoile, the largest hotel in Paris, at the end of last year. The transaction also marks our entry into Greece, a market where we hope to make further acquisitions, and is our first deal with Hines, a globally renowned real estate investor who we are very pleased to be working with on this exciting project.”
Lars Huber, CEO of Hines Europe, said, “Hines has actively been exploring investment opportunities in Greece for some time under the leadership of our Athens based country head Paul Gomopoulos. We are very pleased to be making our entry into this market with the Ledra Hotel in our first transaction alongside our partner Henderson Park. We believe the asset represents an outstanding investment and repositioning opportunity, and look forward to embarking on a major renovation of the hotel, with a view to reopening under a new brand next year.”
About Henderson Park
Henderson Park is a real estate investment platform, recently launched by Nick Weber. Henderson Park is backed by three cornerstone investors: Stone Point Capital, Kuwait Investment Authority and Wafra Investment Advisory Group. Henderson Park has been established to invest in European real estate, primarily targeting gateway cities and seeking investments in both assets and companies. Henderson Park will pursue opportunities across a wide variety of commercial real estate sectors. Henderson Park is led by Nick Weber, its Founding Partner and CEO. Nick has over 20 years of real estate experience, including most recently as Head of Europe for Mount Kellett and previously at Goldman Sachs for 14 years, where he was a Partner and Co-Head of its European Special Situations Group.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 189 cities in 20 countries. Hines has approximately $96.5 billion of assets under management, including $48.5 billion for which Hines provides fiduciary investment management services, and $48 billion for which Hines provides third-party property-level services. The firm has 114 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,206 properties, totaling over 390 million square feet. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.