Arbitrage RE has been appointed by a major REIC to provide pre-acquisition technical due diligence and offer project management services in the extensive refurbishment and transformation of two large and historical commercial buildings in Patras, one of the major port cities of Greece.
The first investment project is a 4,500m² building at the seafront of Patras, which will be refurbished, leased and operated as a 116 room modern hotel. The second is a 5-storey listed building, which will be transformed to a furnished 48 apartment hotel, addressed to students.
The Planning & Development team is actively involved in the monitoring of the design and construction phases. The refurbishment works will include structural reinforcement, energy efficiency upgrades and major interior and external renovations. The scope of the offered services includes design, budget and contracts review, programme monitoring and monthly progress reporting.
