Transactions - SEPTEMBER 28, 2016

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Chinese investor buys Croatian hotel

by Andrea Waitrovich

Erste Group Bank has sold the waterfront Radisson Blu Resort & Spa Sun Gardens hotel in Dubrovnik, Croatia, to an unnamed Chinese investor for an undisclosed sum.The transaction is reportedly the largest hotel transaction in Central and Eastern Europe this year. The sale was brokered by Christie & Co., while the seller was advised by CMS and DLA Piper.

Built in 2009, beach resort comprises 201 individually designed rooms and suites; extensive sports, leisure, spa and health facilities; various restaurants, retail and food shops; a conference zone spanning more than 11,800 square feet; and 207 apartments. More hotels could potentially be built on two neighboring plots in the near future.

The sale follows the purchase of the Le Méridien Lav in Split, Croatia, last year by foreign investor,ODIEN Hotels N.V., a subsidiary of Czech-based The Odien Group. In June 2016, the firm announced plans to invest €2 million ($TK million) in a resort in Pod

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