Fort has advised Cornada on its acquisition of the Georg Ots Spa Hotel in Kuressaare, Estonia, from East Capital Real Estate. Ellex advised East Capital.
Financial details were not disclosed.
The building covers a total area of over 6,600 square meters. According to Fort, "the Georg Ots Spa Hotel opened its doors in 2004 and was the first wellness spa in Estonia. It has 92 rooms, a spa, a wellness and conference center, and a top-class restaurant with scenic sea views. The hotel was fully renovated in 2014-2015."
East Capital Real Estate is a real estate manager that focuses on commercial real estate investments in the Baltics and Central Europe, primarily in the logistics, office, retail, and hospitality sectors.
Fort’s team included Partner Minni-Triin Park, Attorneys Liina Kais and Margus Koiva, and Tax Counsel Ivo Vanasaun.
Ellex's team included Partner Martin Kaerdi and Associate Karin Tartu.
