CMS real estate team advises on hotel transaction in Poland
30 July 2018
CMS advised UBM Development AG, a leading hotel developer in Europe, and Lindorcenia, on the sale of the Park Inn by Radisson Krakow Hotel to Union Investment, Institutional Property. The transaction is valued at approximately €26m.
Park Inn by Radisson Krakow opened in 2009 and is located south of the Vistula River, close to the city centre, and in the immediate vicinity of the modern ICE Congress Centre. The property includes 152 rooms, a breakfast and restaurant area, a gym and five conference rooms, as well as 70 parking spaces in an underground car park. It is managed and branded by the Radisson Hotel Group.
The transaction was led by Piotr Przybylski, senior associate and advocate from CMS’s real estate team, supported by Izabela Kultys, and Justyna Tokarzewska, lawyers from the Warsaw office. The project was supervised by Wojciech Koczara, partner and head of the real estate team in Warsaw and Central Eastern Europe.