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Greenberg Traurig advised Union Investment on the acquisition of a hotel portfolio

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

Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2300 attorneys serving clients from 40 offices in the United States, Latin America, Europe, Asia, and the Middle East.

GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution and TMT.

About Greenberg Traurig's Real Estate Practice

Greenberg Traurig's Global Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of 400 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.

Greenberg Traurig's real estate team in Warsaw consists of 40 top-rated specialists who cover a broad spectrum of core real estate and additional practices. The team offers clients an unparalleled level of legal experience and service in Poland and within Central Europe.

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