Invesco Real Estate acquired the 232-room Sheraton Grand Hotel Kraków for €70m on behalf of one of its UK pension fund separate account clients. The seller was Algonquin, which bought the hotel in 2013 for €38m. CMS advised Invesco during the transaction process, while the seller was advised by DZP. The property is located on Powiśle street, close to the Wawel citadel, and was recently branded a Sheraton Grand hotel.
