Invel Real Estate (“Invel”), one of Europe’s leading private equity firms in the real estate sector, announced today the closing of the Invel Eudora Fund 2 (“the Fund”), securing total capital commitments of over €400 million, significantly higher than the initial target of €300 million. Combined with debt financing and co-investment capital, the Fund will have an investment capacity exceeding 1 billion euros, according to the announcement.
Invel’s Eudora Fund 2 focuses on Southeast Europe, with Greece and Italy as its main markets, two markets that offer particularly attractive investment prospects as they are characterized by structural imbalances between supply and demand, a fragmented ownership structure, and significant growth potential for specialized companies in the real estate sector.
With a flexible and disciplined strategy, Eudora Fund 2 invests across the entire capital structure through two pillars: on the one hand, providing liquidity and recapitalization solutions, and on the other, investing in individual properties, portfolios, and companies.
The Fund focuses on opportunities where valuations do not fully reflect the fundamental value of the assets, market conditions create attractive investment opportunities, and there is significant potential for value creation.
The strong oversubscription reflects investors’ enduring confidence in Invel’s diversified investment strategy, as well as its strong track record, its in-depth knowledge of local markets, and its proven ability to identify off-market investment opportunities.
In this context, Invel has succeeded in attracting a diverse, high-quality investor base from Greece, as well as from the rest of Europe, the Middle East, and North America, including leading asset managers, financial institutions, family offices, foundations, and pension funds.
To date, approximately 60% of the Fund’s total capital has been committed to 10 investments in both Greece and Italy. These investments span the residential, hospitality, logistics, and structured financing sectors.
These include a strategic partnership with YellowSquare to create a leading hybrid hospitality platform (glostels) targeting more than 5,000 beds in Southern Europe, as well as €111.2 million in financing to support the conversion of the iconic Hotel Majestic on Via Veneto in Rome into the Baccarat Hotel Rome.
It is worth noting that Eudora Fund 2 incorporates environmental and social criteria throughout its investment portfolio, reaffirming Invel’s commitment to an investment approach that respects local communities and the natural environment of the regions where it operates.
A prime example is the creation of the first specialized platform for flexible living (flexible living) in Greece, with the goal of developing a portfolio of 2,000 homes, where each property is designed with a focus on long-term durability and resilience to climate change, featuring excellent thermal insulation, ventilation with heat exchangers, high-efficiency central air conditioning, prefabricated components, and extensive use of renewable energy sources.