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Deal of the Week: UK family office backs hospitality real estate group

An innovative hospitality group looking to grow as landlords to fill sites left empty by retailers with various bar and entertainment businesses has received backing from a London-based family office. 

Social Entertainment Ventures, which operates Bounce ping pong bars, Puttshack mini-golf clubs, and runs Flight Club darts bars under licence in the US, received $20 million from  Acropolis Capital and an undisclosed investor. 

Acropolis Capital is run by Cameron Chartouni, but set up by his father, Nabil Chartouni, a US-based real estate investor, back in the 1980s. The Chartouni family originated from Lebanon. Nabil, together with his brother Fouad, are prominent real estate developers. Among their real estate portfolio is the Lowell Hotel in New York City, one of the city’s most luxurious. The brothers own a property development company called Kensico Properties, which has on its books a host of properties in New York City and Connecticut.  

Social Entertainment Ventures was founded nine years ago by Adam Breeden. The Brit helped to set up the highly successful bowling alley chain All Star Lanes in 2006. 

With many landlords struggling to fill retail spaces, even in prime locations, the various hospitality groups owned by Social Entertainment Ventures are helping to fill these spaces, and create viable businesses at the same time. 

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