WARSAW, October 1, 2021 - Greenberg Traurig advised Union Investment on the final purchase agreements for the acquisition of two hotel properties in Katowice (Hotel Mercure) and Kraków (Hotel ibis Styles). The total value of the transaction is over EUR 80 million.
The Greenberg Traurig team was led by Associate Karolina Woronko-Kawa, supported by Associate Alicja Flis. The transaction team also included Senior Associate Tomasz Denko, Senior Associate Kamil Majewski and Associate Iga Czerniak.
The transaction was supervised by Deputy Managing Partner Radomił Charzyński.
“This transaction shows that the hospitality sector is moving into post-pandemic recovery mode, after several investments in this sector were put on hold in 2020. We are very proud that we could advise our long-term Client on this project,” said Radomił Charzyński, Deputy Managing Partner of the Warsaw office.
The Mercure hotel in Katowice offers 268 rooms and 70 parking spaces. The property is located in the immediate vicinity of the main railway station and Galeria Katowicka, and also includes almost 3,000 sq.m. of high-quality office space.
The ibis Styles hotel in Krakow comprises 259 rooms and 179 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 were completed in 2021.
The hotels are part of the portfolio of the special fund UII EuropeanM from Union Investment. The fund invests predominantly in the four commercial use types of office, hotel, logistics and retail, focusing on midscale properties in European real estate markets.
Greenberg Traurig, LLP
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