Linklaters Warsaw has advised UBM Development AG on the forward sale of two new hotel properties in Kraków and Katowice.
The purchaser is Union Investment Institutional Property GmbH, and the properties will be owned by the fiduciary open ended real estate fund “UII EuropeanM”. UBM Development will act as the developer, vendor and future operator of the two hotels, both scheduled for completion in autumn 2021.
The ibis Styles-branded hotel in Kraków has been designed to accommodate 259 rooms and 179 underground parking spaces. The Mercure-branded hotel in Katowice will offer 268 rooms and 70 parking spaces. The property in Katowice will also offer ca. 2,700 sq m GLA of office space. Both properties are favourably located in close proximity to railway stations and the city centres.
UBM Development AG is one of the largest Austrian developers listed on the Vienna Stock Exchange and a leading hotel developer in Europe.
Linklaters’ Warsaw Real Estate legal team was led by counsel Michal Miecinski (Picture), with the core team including senior associates Zaneta Rogon and Zuzanna Lipska, supported by senior associate Tomasz Pleskot, associate Jedrzej Palka and junior associates Aleksander Krzeszowiak and Filip Witaszek.
Involved fees earner: Aleksander Krzeszowiak – Linklaters; Zuzanna Lipska – Linklaters; Michał Mieciński – Linklaters; Jędrzej Pałka – Linklaters; Tomasz Pleskot – Linklaters; Żaneta Rogoń – Linklaters; Filip Witaszek – Linklaters;
Law Firms: Linklaters;
Clients: UBM Development AG;