CPI Property Group has concluded a framework agreement with CBRE Global Investors for the acquisition of 11 shopping centers in the Czech Repblic, Hungary, Poland and Romania. CBRE GI manages the two funds that are selling the shopping centers. In all, the portfolio is made up of 265,000 sqm, including the Olympia Shopping Center in Pilsen (including the retail park), Nisa shopping center in Liberec, the Campona and Polus malls in Budapest and the Felicia shopping center in Iasi, Romania. In addition, CPI PG is due to take control of Zlatý Anděl in Prague 5 along with the Andrassy complex in Budapest. The deal still has to be approved by Czech and Hungarian antitrust authorities, to whom applications will be submitted in the coming days.
Martin Němeček, CEO of CPI Property Group, said: “This transaction, which might be the region’s largest real estate deal of the year, signifies yet another milestone for CPI Property Group that underscores our ability to deliver exceptional transactions within the current competitive environment.”
