Spain's Balboa group has purchased a residential complex in central France. The asset includes a four-star hotel, a golf course and further plots of land to be developed in residential areas. The price for the acquisition was not disclosed.

Spain's Balboa group has purchased a residential complex in central France. The asset includes a four-star hotel, a golf course and further plots of land to be developed in residential areas. The price for the acquisition was not disclosed.

In a press release, the company said the complex covers an area of 770,000 m2 and is located in Berry, 45 km away from Chateauroux and 250 km from Paris. The development features a XIII century castle which has recently been restored, the web site Finanzas.com has reported.

The real estate group is specialised in tourist and residential properties in Spain and US, and said the operation is part of its growth strategy and international expansion. The group had a turnover of about EUR 40 mln in 2005.