Greenberg Traurig, LLP advised Union Investment on the acquisition of a multiplex cinema operating under the Cinema City brand from a Cineworld Group company. The cinema is located on the same site as the Manufaktura shopping center in ?ód?.
The acquisition sees Union Investment’s managed rental space on the Manufaktura site rise to over 100,000 sq m and its total investment at the location increase to around EUR 470 million. Going forward, the shopping centre and multiplex cinema will form a single economic entity in the portfolio of open-ended real estate fund Unilmmo: Deutschland. The vendor of the cinema property, which is let on a long-term lease, is part of the Global City Holdings group. The purchase price is around EUR 21 million.
Union Investment engages in buying and managing commercial property worldwide, with special emphasis on the European market.
The Greenberg Traurig team was led by two partners, Radomil Charzynski (Picture) and Karol Brzoskowski, assisted by Filip Janeczko (Associate) and Samanta Wenda-Uszynska (Associate).
Law Firms: Greenberg Traurig;
Clients: Union Investment;