Linklaters has advised UBM Development AG, an Austrian hotel developer listed on the Vienna Stock Exchange, on the forward sale of hotel properties in Krakow and Katowice toUnion Investment Institutional Property GmbH, and the properties will be owned by the fiduciary open-ended real estate fund UII EuropeanM.
According to Linklaters, “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 Krakow 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 Linklaters team was led by Counsel Michal Miecinski and included Senior Associates Zaneta Rogon, Zuzanna Lipska, and Tomasz Pleskot, Associate Jedrzej Palka, and Junior Associates Aleksander Krzeszowiak and Filip Witaszek.
Linklaters did not reply to our inquiry.