Greece: London-based investment firm Valpre Capital has acquired an office building in Athens for conversion into an aparthotel.
The acquisition is Valpre Capital’s first property in Athens, and is a centrally located office building on Piraeus Street in the Omonia Square district. It is the first step in Valpre Capital’s strategic plan to develop a portfolio of high-quality aparthotels in high-demand areas of central Athens. The plan aims to transform underutilised office buildings into contemporary accommodation solutions in partnership with Valpre Capital’s local partner, Anastasios Nasim.
The acquired 2,900 square metre property will undergo a comprehensive refurbishment to meet the needs of modern travellers and residents. Once completed, Valpre Capital says the property will be operated by “a leading international aparthotel brand, ensuring exceptional management and a superior guest experience”.
Ahmad M. Hariri, managing partner of Valpre Capital, said: “This acquisition marks a significant milestone in Valpre Capital’s expansion into the Athens real estate market. Piraeus Street is a strategic location at the intersection of business and culture, making it an ideal starting point for our aparthotel portfolio. Our vision is to deliver high-quality, sustainable assets that address the growing demand for flexible accommodation solutions in central Athens.”
Anastasios Nasim, local partner of Valpre Capital, added: “It is a privilege to partner with Valpre Capital on this strategic venture in Athens. Our shared commitment to creating developments that cater for the evolving needs of short-term accommodation while integrating seamlessly with the local community and environment is at the core of this venture.”
The refurbishment will incorporate sustainable practices and innovative design, reflecting Valpre Capital’s commitment to responsible investment and development. The aparthotel portfolio will target a diverse audience, including tourists, corporate travellers, digital nomads, and longer-stay residents.
Valpre Capital anticipates completing the refurbishment and operational stabilisation of the Piraeus Street property by Q1 2027. Additional portfolio expansion is expected, with the acquisition of another office building in the Monastiraki district planned in the coming months.
