Linklaters’ Warsaw Real Estate Team has advised UBM Development AG on the €38.25m disposal of a new Holiday Inn in Gda?sk to an institutional investment fund managed by the German Union Investment Real Estate GmbH.
The new hotel has 240 rooms and has a premium location directly on the water’s edge at the tip of the historic Granary Island (Wyspa Spichrzów) in the old town of Gdansk. The hotel is open for public since June 2019, and now the sale has been legally sealed.
In this prominent location, the building is visible from afar and is set to become an architectural icon.
UBM Development will continue to operate the hotel, and day-to-day management will be handled by the InterContinental Hotels Group (IHG) under the Holiday Inn brand.
UBM Development is the leading hotel developer in Europe. Its strategic focus is on the three clearly defined asset classes Hotel, Residential and Office and the three core markets Germany, Austria and Poland.
Linklaters’ team advised UBM Development on all legal aspects of the transaction from the land purchase in the scope of a PPP project till successful sale. Linklaters’ Warsaw Real Estate legal team was led by Michal Miecinski (Picture) with the core team including Zuzanna Lipska (senior associate, real estate), Zaneta Rogon (senior associate, real estate) and Patrycja Czarnecka (associate, real estate). Kacper Piórecki (associate, real estate) was involved at the land acquisition stage.
Law Firms: Linklaters;
Clients: UBM Development AG;