CPI Property Group secured a €354m loan from Helaba for the acquisition of four commercial properties in the Czech Republic and Poland. The portfolio includes the shopping centers Nisa in Liberec and Olympia Plzen in Pilsen, the office and commercial building Zlaty Andel in Prague as well as the Ogrody shopping center in Elblag, Poland.
The Czech properties are being financed in a club deal with ČSOB, with Helaba covering 60 percent of the costs and ČSOB providing 40 percent.
“Helaba has been active in the region for more than a decade and has built up a substantial track record. We have been able to establish valuable relationships, such as with CPI and ČSOB. This transaction once again confirms the stable outlook for CE markets, which is also an integral part of Helaba’s strategy,” said Michael Kröger, head of international real estate finance at Helaba.
The transaction is part of CPI’s purchase of 11 retail properties in the Czech Republic, Hungary, Poland and Romania from real estate funds managed by CBRE Global Investors with a total value of around €650m. “This transaction, which might be the region’s largest real estate deal of the year, represents yet another milestone for the CPI Property Group that underscores our ability to deliver exceptional transactions within the current competitive environment,” said Martin Němeček, CEO of CPI Property Group.
