The Radisson Blue hotel in Wroclaw, Poland, has a new owner. The hotel, developed by UBM Development AG and completed in 2002, was sold to Union Investment for its UniInstitutional European Real Estate fund.
The purchase price was not disclosed. This is Union Investment's second acquisition in Wroclaw, Poland's fourth-largest city, in the last eight months.
The hotel has 162 rooms, along with such facilities as a 200-square-meter health spa.
In 2016, Wroclaw is set to become the European Capital of Culture.