WARSAW – 21 December 2023 – Greenberg Traurig advised Ghelamco on the transaction related to the sale of the Crowne Plaza and Holiday Inn Express hotels located in The HUB complex in Warsaw to the French real estate fund Corum XL managed by Corum Asset Management.
The Warsaw Hub complex consists of three buildings: two office buildings and one hotel and service building, connected by an underground shopping arcade and a parking deck. Last year, the office part of the complex was sold to Google.
The transaction was led by Local Partner Kamil Majewski, supported by Associate Jakub Gajzler and Junior Associate Maciej Smaczyński. The transactional team also included Associate Paulina Walczewska and Junior Associate Hanna Żaboklicka. Local Partner Justyna Szwech was responsible for the negotiations of the hotel lease agreement in the transaction.
Managing Partner and Head of the Real Estate Practice Jolanta Nowakowska-Zimoch provided strategic advice on the transaction.
“We are delighted to have advised Ghelamco on this complex sale transaction in such a significant business location in Warsaw. I believe that this transaction underlines the potential of the Polish hotel sector and its appeal to future investors attracted to the global hospitality industry”, said Jolanta Nowakowska-Zimoch, Managing Partner of Greenberg Traurig in Poland.
Ghelamco is a Belgian developer whose portfolio in Warsaw includes the Warsaw Spire complex, the Warsaw Unit building and projects such as the revitalization of the pre-war townhouses at 13 and 15 Foksal Street, and the Bridge and Vibe office buildings currently under development.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2650 attorneys serving clients from 47 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 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, TMT and Competition/Antitrust.
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 700 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.
For more information, please visit www.gtlaw.com.
The Warsaw Hub complex consists of three buildings: two office buildings and one hotel and service building, connected by an underground shopping arcade and a parking deck. Last year, the office part of the complex was sold to Google.
The transaction was led by Local Partner Kamil Majewski, supported by Associate Jakub Gajzler and Junior Associate Maciej Smaczyński. The transactional team also included Associate Paulina Walczewska and Junior Associate Hanna Żaboklicka. Local Partner Justyna Szwech was responsible for the negotiations of the hotel lease agreement in the transaction.
Managing Partner and Head of the Real Estate Practice Jolanta Nowakowska-Zimoch provided strategic advice on the transaction.
“We are delighted to have advised Ghelamco on this complex sale transaction in such a significant business location in Warsaw. I believe that this transaction underlines the potential of the Polish hotel sector and its appeal to future investors attracted to the global hospitality industry”, said Jolanta Nowakowska-Zimoch, Managing Partner of Greenberg Traurig in Poland.
Ghelamco is a Belgian developer whose portfolio in Warsaw includes the Warsaw Spire complex, the Warsaw Unit building and projects such as the revitalization of the pre-war townhouses at 13 and 15 Foksal Street, and the Bridge and Vibe office buildings currently under development.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2650 attorneys serving clients from 47 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 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, TMT and Competition/Antitrust.
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 700 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.
For more information, please visit www.gtlaw.com.