CMS and DLA Piper Advise Erste Group Immorent on Sale of Croatian Hotel Resort

CMS and DLA Piper Advise Erste Group Immorent on Sale of Croatian Hotel Resort

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CMS (on M&A) and DLA Piper (on financing) have advised Erste Group Immorent on the sale of the five-star hotel and apartment complex Radisson Blu Resort & Spa, Dubrovnik Sun Gardens to Chinese investor ADC GmbH. Savoric & Partner advised the buyer on the deal.

Erste Group Immorent is Erste Group’s specialist for real estate financing and project development. According to CMS, "with over 10,000 financed office and commercial properties, business parks, shopping centers, residential buildings, infrastructure projects, and more, Erste Group Immorent is among the leading suppliers of real estate and infrastructure financing solutions in Central, Eastern and Southeast Europe."

The CMS team advising Erste Bank Immorent on all corporate law aspects of the transaction was led by Vienna-based Partner Gregor Famira and Zagreb-based Partner Hrvoje Bardek. In a statement released by CMS, Famira said: "CMS is a leading advisor of the hotel industry in Europe, drawing on many years of profound experience in takeovers and sales in this sector. So we are very happy to have had the opportunity to successfully advise Erste Group Immorent on this transaction on the hotel market."

The DLA Piper team advising Erste Bank Immorent on financing aspects was led by Vienna-based Partner Jasna Zwitter-Tehovnik, who added that: "The transaction perfectly emphasises our expertise in the financing sector; we are very glad that we have been able to support Erste Group Immorent with our expertise ever since the resort was first established."

The Savoric & Partner team consisted of Senior and Managing Partner Boris Savoric, Junior Partner Lovro Gasparac, and Associate Mia Lazic.

Editor’s Note: This article has been updated to include the identity of the purchaser of the hotel and its counsel on the deal.

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