Real Returns, together with a group of it's private clients, have completed the purchase of a construction site on Dob Utca in central Budapest, Hungary with planning permission for the construction of a 50 apartment ApartHotel. The Project has a total value at completion of c.€7.8M (EURO) with MKB Bank ZRT, providing local project finance.

The completed ApartHotel will be operated by Bridgestreet worldwide who will operate the ApartHotel on our behalf for a 15 year period.

"We are extremely pleased to have entered into this partnership with Real Returns," said Max Thorne, BridgeStreet Worldwide’s vice president of development E,ME&A. "Together we have created a model which we hope to roll out across several other key Eastern European towns."

Construction will begin by the end of July 2008 and the ApartHotel is planned to be fully operational by Q3 2009.

This ApartHotel is the first of a number similar projects which RealReturns intents to undertake throughout Central and eastern Europe over the next 3-5 years.

For investors seeking to become equity partners in these projects please register an interest by contact us without delay by completing the inquiry form below.