DTB advises GTC Group on the sale of Avenue Mall Zagreb

We are pleased to have advised the seller on the sale of Avenue Mall Zagreb and the adjoining Avenue Center office complex to InterCapital Real Estate Fund Alfa, in a transaction valued at approximately EUR 100 million.

The transaction represents one of the largest commercial real estate deals in Croatia in recent years and marks another important milestone in the Croatian real estate market, reflecting continued investor confidence in high-quality retail and mixed-use assets. Upon completion, the acquisition will further strengthen the position of domestic institutional capital in Croatia’s commercial real estate sector.

Emir Bahtijarević, Managing Partner, and Sanja Kumar, Senior Attorney, led our team and provided comprehensive legal support to the seller throughout all stages of the transaction, including legal structuring, drafting and negotiation of the transaction documentation, management of the legal workstreams and coordination from signing through to completion. The seller, particularly GTC Group, has been DTB’s longstanding client of over 15 years, to which DTB has provided legal advice for their initial investment in Avenue Mall Zagreb and with respect to the mall’s day-to-day operations.

This mandate once again demonstrates our firm’s experience in advising on complex, high-value M&A and real estate transactions involving landmark assets and cross-border investors.

We congratulate our client, GTC Group, and InterCapital Real Estate on the successful signing of this important transaction and thank everyone involved for their professionalism, collaboration and commitment throughout the process.