In September 2012, one of the most valuable parcels in İstanbul, the Paşabahçe land, was added to the portfolio of Torunlar REIC through a bid price of TL 355 million.

The project is designed as an Urban Resort Hotel, a mixed-use, low-intensity, luxury boutique hotel consisting of 120 rooms, apartments, and villas, which will be operated by a prestigious hotel operator, an upscale and prestigious international brand. Torunlar REIC has also received the easement for the pier, wharf and the filled land covering 3,935 m² for a period of 49 years.