BUSINESS

L&R Properties returns to Greece

TAGS: Property, Business

London & Regional Properties (L&R Properties) is in advanced discussions with Greek banks and private entities for the acquisition of mainly tourism but also commercial properties.

The value of such investments may reach up to 300 million euros according to the latest information from company sources. The ongoing negotiations are focusing on the acquisition of tourism properties on the Cyclades islands and Crete, as well as investments in Athens.

London & Regional Partners is a strategic investor with a very long-term approach. Nikos Konstantinidis, the manager of L&R Properties, says that as a privately owned company it is able to take positions which return profits over the long term, in contrast to many international funds which, to a large extent, pursue shorter-term gains.

London & Regional Partners recently purchased the Amathus Hotel on the island of Rhodes for 30 million euros and is in the process of modernizing it.

The company has also expressed interest in Cyprus and it recently purchased a logistics park in Zagreb, Croatia, worth 60 million euros.

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