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.