Poštová banka fund has acquired the development site of a failed giant relaxation and residential complex called Beethovenova in the town of Banka. It bought the project’s SPV company Forespo Development 4 from Iuris Group in an auction. The lender, UniCredit Bank, put the 30 hectare site in Piešťany on sale early in 2017 after Iuris failed to make progress on the project over the past eight years. Trend Reality says the first attempt to sell off the project failed to attract any bids, leading UniCredit to reduce the price from €3.8m to €2.85m. The project, which was supposed to include a hotel, a sports complex and an aquapark, sold in the second round for €1.94m.
