NCH Capital Gets Go-Ahead for Greek Island Resort
George Rohr and Morris Tabacinic’s NCH Capital received permission from the Greek government to develop a tourist resort on the island of Corfu, Bloomberg reports.
NCH, based in New York, will spend 23 million euros ($32 million) for the leasehold and invest about 75 million euros to develop a hotel, marina and private holiday homes, said Andi Ballta, the firm’s managing director for the Western Balkans and Greece.
“We were looking at Greece way before anyone considered investing there and that’s put us ahead of the competition,” Ballta said. Construction may start as early as 2015, he said.
NCH Capital’s founders and general partners, George Rohr and Morris Tabacinic, founded NCH in 1993. Messrs. Tabacinic and Rohr are brothers-in-law. According to their website, they have “launched 21 funds since their founding and established, in addition to headquarters in New York City, eight regional offices in Russia, Romania, Ukraine, Latvia, Bulgaria, Moldova, and Albania with over 145 local staff dedicated to executing the firm’s strategies.”