Magna buys two TUI hotels on the Baltic Sea
Magna Asset Management has acquired two hotels in the Baltic Sea spa town of Boltenhagen, between Wismar and Lübeck. The two properties are the “Iberotel” and “Dorfhotel” of the holiday resort “Weiße Wiek” on the Tarnewitz peninsula. Both are operated by TUI and have 191 rooms each. The seller is 12.18. Group, who signed a 20-year lease with Magna at the same time. The group also signed an urban planning contract with the community for construction lots, where vacation homes and apartments, another staff lodging facility, and tourist infrastructure are to be developed. Magna was advised on the share deals by the law firm of Möhrle Happ Luther. The assets will be added to the “Magna Touristic Opportunities Fund”. 12.18. had acquired the resort in late 2016/early 17.
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