FORWARD SALE OF THE HOLIDAY INN GDANSK TO UNION INVESTMENT

Union Investment acquired a Holiday Inn development in the Polish waterfront city of Gdansk from Austrian developers UBM AG, for €38 million. Due for completion in mid-2019, the hotel is part of a 60,000 m² mixed-use redevelopment of the ruined river island Wyspa Spichrzów, which UBM entered into less than two years ago with project developer Immobel.

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