The Warsaw office of global firm Linklaters has advised Austrian real estate investor and hotel developer UBM Development AG on its €38.25m disposal of a new Holiday Inn hotel in Gdańsk, Poland to an institutional investment fund managed by the German Union Investment Real Estate.
The new hotel opened in June 2019 and has 240 rooms. It is located in a premium area directly on the water’s edge at the tip of the historic Granary Island in the old town of Gdańsk.
UBM Development will continue to operate the hotel, while the day-to-day management will be handled by the InterContinental Hotels Group (IHG) under the Holiday Inn brand.
Linklaters’ real estate team in Warsaw team has advised UBM Development on all legal aspects of the transaction. The team was led by counsel Michał Mieciński and included senior associates Zuzanna Lipska and Żaneta Rogoń, and associate Patrycja Czarnecka.