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Jan 2016

Bernitsas Law advises Florac on Sani Resort investment

Bernitsas Law acted for the French private equity fund FLORAC in their entry into equity contribution and management agreements, as partners with Oaktree Capital Management and Goldman Sachs, in relation to Sani Resort, one of Greece’s largest 5-star touristic and residential developments, the Oceania Beach and Ikos Resort, both 5-star hotels and all located in the area of Chalkidiki, in Northern Greece. This is one of the largest touristic project transactions ever completed in Greece.

The entry of such high profile investors to the Greek touristic and secondary residential market in the context of such a significant transaction, was considered a turning point in the interest of international investors in the Greek touristic industry.

Florac is a private equity investment fund with its headquarters in Paris. Oaktree Capital Management is a global alternative investment management firm with expertise in credit strategies.

The Bernitsas Law team was led by Nikos Vouhiounis.