Union Investment’s €86 Million Acquisition of Hotel Portfolio in Poland

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 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 sq. m 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.

The Greenberg Traurig team is led by Partner Radomil Charzynski (Picture), supported by Local Partner Karol Brzoskowski, Senior Associate Olga Durawa and Associate Karolina Woronko-Kawa.

Involved fees earner: Karol Brzoskowski – Greenberg Traurig; Radomi? Charzy?ski – Greenberg Traurig; Olga Durawa – Greenberg Traurig; Karolina Woronko-Kawa – Greenberg Traurig;

Law Firms: Greenberg Traurig;

Clients: Union Investment;