Thursday, July 16, 2020
Home News Investment Market Greenberg Traurig represents Union Investment in the acquisition of a hotel portfolio

Greenberg Traurig represents Union Investment in the acquisition of a hotel portfolio

Greenberg Traurig has advised Union Investment on the preliminary purchase agreement regarding the acquisition of two planned hotel properties in Katowice (Hotel Mercure) and Kraków (Hotel ibis Styles). The total value of the transaction is approximately EUR 86 million.

The Greenberg Traurig team is led by Partner Radomił Charzyński, supported by Local Partner Karol Brzoskowski, Senior Associate Olga Durawa and Associate Karolina Woronko-Kawa.

“We have been observing important growth in the hospitality sector for the last couple of years. Major, international hotel chains have been intensifying the development of their brands in Poland. Greenberg Traurig’s participation in another transaction regarding hotel properties confirms that we are always at the vanguard of change,” said Radomił Charzyński.

“We are proud that Greenberg Traurig is again representing Union Investment in another of its investments in Poland,” said Jolanta Nowakowska-Zimoch, Partner and Head of Real Estate in Poland.

The Mercure hotel in Katowice will upon completion offer 268 rooms and 70 parking spaces. The property is located in the immediate vicinity of the main railway station and Galeria Katowicka, and will include also almost 3,000 sqm of high-quality office space. The ibis Styles hotel in Krakow will comprise 259 rooms and 166 underground parking spaces. The property enjoys easy access to the main railway station, Galeria Krakowska and the historic city center. Both properties have 25-year leases and should be completed in autumn 2021.

The funds of Union Investment actively purchase and manage commercial real estate around the world, with a particular focus on the European market.

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