DLA Piper represented Hamburg, Germany-based Union Investment in acquiring the 317-room Courtyard by Marriott World Trade Center in New York for more than US$200 million.

The newly constructed 30-story hotel, purchased for Union Investment's open-ended real estate fund UniImmo Global, is located in Manhattan's Financial District, close to the World Trade Center complex and Ground Zero memorial. Boston-based Pyramid Hotel Group will operate the hotel on Union Investment's behalf.

The acquisition from developers Hidrock Properties and Robert Finvarb Companies closed on December 22, 2016. DLA Piper previously represented Union Investment in the acquisition of the Godfrey Hotel in Boston in late 2015 and the LondonHouse in Chicago in the spring of 2016.

The DLA Piper team representing Union Investment consisted of Fred Klein and Keith Greenberg (both Washington, DC) and Brian Cohen (Chicago).