The Real Estate Workout department of Erste Group Bank AG, has concluded the sale of the luxury resort Radisson Blu Resort & Spa Sun Gardens to a Chinese investor under the terms of a share deal. The property – one of the largest hotel complexes in Croatia – enjoys a prime beachside location in Dubrovnik.
Hotel broker Christie & Co was responsible for what is considered the largest hotel transaction in Eastern Europe this year to date; the vendor was also advised by CMS Reich-Rohrwig Hainz and DLA Piper Weiss-Tessbach.
Built in 2009, the beach resort comprises 201 individually designed rooms and suites, sports, leisure and health facilities, various restaurants, retail and food shops, a conference zone spanning more than 1,100 square metres and 207 fully furnished apartments. More hotels could potentially be built on two neighbouring plots in the near future.
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