Greenberg Traurig has advised Union Investment on a preliminary agreement to acquire planned hotel properties in Katowice (the Hotel Mercure) and Krakow (the Hotel Ibis Styles) from UBM Development. Linklaters reportedly advised UBM Development on the transaction, which is valued at approximately EUR 86 million.
According to Greenberg Traurig, “the Mercure hotel in Katowice will, upon completion, offer 268 rooms and 70 parking spaces. The property will include also almost 3,000 square meters of high-quality office space. The Ibis Styles hotel in Krakow will [consist of] 259 rooms and 166 underground parking spaces. Both properties have 25-year leases and should be completed in autumn 2021.”
Greenberg Traurig’s team included Partner Radomil Charzynski, Local Partner Karol Brzoskowski, Senior Associate Olga Durawa, and Associate Karolina Woronko-Kawa.
Editor's note: In October 2021, Greenberg Traurig announced that the transaction was finalized. The firm's updated team included Deputy Managing Partner Radomil Charzynski, Senior Associates Tomasz Denko and Kamil Majewski, and Associates Alicja Flis, Iga Czerniak, and Karolina Woronko-Kawa.
On October 12, 2021, Linklaters confirmed for CEE Legal Matters that it had advised UBM Development on the sale of the two hotels. The firm's team was led by Counsel Michal Miecinski and included Associate Mateusz Korecki.