WARSAW - February 5, 2020 - Greenberg Traurig has advised Union Investment on the preliminary purchase agreement regarding the acquisition of two planned hotel properties in Katowice (Hotel Mercure) and Kraków (Hotel ibis Styles). The total value of the transaction is approximately EUR 86 million.
“We have been observing important growth in the hospitality sector for the last couple of years. Major, international hotel chains have been intensifying the development of their brands in Poland. Greenberg Traurig’s participation in another transaction regarding hotel properties confirms that we are always at the vanguard of change,” said Radomił Charzyński.
“We are proud that Greenberg Traurig is again representing Union Investment in another of its investments in Poland,” said Jolanta Nowakowska-Zimoch, Partner and Head of Real Estate in Poland.
The Mercure hotel in Katowice will upon completion offer 268 rooms and 70 parking spaces. The property is located in the immediate vicinity of the main railway station and Galeria Katowicka, and will include also almost 3,000 sq. m of high-quality office space. The ibis Styles hotel in Krakow will comprise 259 rooms and 166 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 should be completed in autumn 2021.
The funds of Union Investment actively purchase and manage commercial real estate around the world, with a particular focus on the European market.
Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2100 attorneys serving clients from 41 offices in the United States, Latin America, Europe, Asia, and the Middle East.
Greenberg Traurig Grzesiak sp.k. was named the 2019 and 2018 Most Innovative Law Firm of the Year Award for Poland by International Financial Law Review (IFLR) and the 2017 Law Firm of the Year in Poland by Chambers and Partners. 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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