UK investment firm drops €50M on Cyprus MUD

The mixed-use development includes the Aphrodite Hills Hotel by Atlantica. Photo credit: Aphrodite Hills Resort Ltd.

U.K.-based investment firm Invel, which focuses on real estate and distressed-debt opportunities across Europe, has partnered with NBG Pangaea REIC and an undisclosed major institutional investor to acquire a majority stake in mixed-use development Aphrodite Hills Resort Ltd. and Aphrodite Springs Public Ltd. in Pafos, Cyprus, for an estimated €50 million.

Aphrodite Hills Resort covers approximately 580 acres of land and includes the Aphrodite Hills Hotel by Atlantica, with 290 rooms and suites, a certified PGA National Cyprus golf course, more than 750 luxury villas and apartments, a tennis academy, conference facilities and sports, leisure and dining options.

Pangaea and its partners plan to continue the expansion of the resort.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


“The acquisition of Aphrodite Hills is exactly the sort of strategic investment that we want to increase our exposure to as we believe that hospitality investments in Southern and Southeastern Europe present opportunities to create significant value,” said Invel’s Founder/Managing Partner Christophoros Papachristophorou.