Argenta Corporate Finance has announced that it advised on the sale of the Athens Zafolia Hotel to a consortium comprising American operator-investor Highgate and asset manager Eternam. The investment bank acted as sole and exclusive financial advisor to the vendors throughout the transaction.
The deal concerns a landmark property on the Athens hospitality scene, acquired by a duo pairing the operational expertise of Highgate, already present across several international hotel markets as an operator, with the investment capacity of Eternam, a French player also active in the hotel sector through deals such as the acquisition of the Courtyard by Marriott Arcueil.
A strategic hotel asset in the heart of Athens
The Athens Zafolia Hotel has 191 rooms and suites, complemented by a rooftop pool offering panoramic views over Lycabettus Hill. The property sits on Alexandra Avenue, a historic Athens thoroughfare, close to the business district and the city’s main cultural sites.
This central location, combined with the asset’s critical mass, makes it a sought-after investment target in an Athens market that has seen a growing influx of international brands and institutional capital in recent years.
A transaction steered end to end by Argenta
Mandated by the vendors, Argenta Corporate Finance designed and orchestrated the disposal process while providing strategic and operational support throughout every phase of the deal. The investment bank covered targeted investor outreach, coordination of due diligence, negotiation of the sale and purchase agreement (SPA), and the signing and closing of the transaction.
The deal marks the eighth hotel M&A mandate completed by Argenta since its founding, confirming the investment bank’s steadily growing presence in this specific segment of transaction advisory.
Greece, a confirmed destination for hotel capital
Analysis – This transaction forms part of a broader trend of strengthening appeal for Greece among international hotel investors, most of them cross-border. The Athens market, and the Greek market more broadly, has seen a growing number of such deals, whether equity stakes — such as the one recently taken by PREMIA Properties in the AKTI Hotels & Resorts group in Rhodes and Kos — or new brand signings across Greek territory.
For Argenta, the deal confirms a developing position in the southern European hotel market, at a time when Greece continues to attract a growing number of institutional investors and specialist property companies.
At a glance by The Hospitality Tribune
Highgate and Eternam acquire Athens Zafolia Hotel, advised by Argenta Corporate Finance
Asset: Athens Zafolia Hotel – 191 rooms and suites, rooftop pool, Lycabettus Hill views
Location: Alexandra Avenue, central Athens, near the business district
Buyers: consortium of Highgate (US operator-investor) and Eternam (French asset manager)
Advisor: Argenta Corporate Finance, sole and exclusive financial advisor to the vendors
Milestone: Argenta’s 8th completed hospitality M&A assignment since inception
