Linklaters advises UBM Development AG on the sale of two brand new hotels in Poland

Linklaters Warsaw has advised UBM Development AG, one of the largest Austrian developers listed on the Vienna Stock Exchange and a leading hotel, office and residential developer in Europe, on the sale of two brand new hotel properties in Kraków and Katowice. The hotel in Kraków will operate under the ibis Styles brand and the hotel in Katowice under the Mercure brand. The purchaser is Union Investment Institutional Property GmbH. The total value of the transaction is over €80 million.

The ibis Styles-branded hotel in Kraków was designed to accommodate 259 rooms and 179 underground parking spaces. The property is in close distance to Galeria Krakowska and the Old Town.

The Mercure-branded hotel in Katowice offers 268 rooms and 70 parking spaces. The property in Katowice offers also ca. 2,600 sqm GLA of office space. The property is located near the main railway station, city hall and Galeria Katowicka.

Simultaneously with the sale of both hotels, subsidiaries belonging to UBM hotels GmbH executed long term lease agreements with the new owner of the properties. Both hotels will be managed by Accor.

The transaction was led by Michał Mieciński (counsel) supported by Mateusz Korecki (associate) from Warsaw real estate practice.