CPI Property Group is close to finalizing the acquisition of a retail portfolio from CBRE Global Investors. CPI did not disclose the price, however, market sources are estimating the deal at around €650m. Market regulators are expected to rule on the transaction within a month. The portfolio includes 11 dominant shopping centers across the Czech Republic, Hungary, Poland and Romania, totaling 265,000 sqm of leasable space. Olympia in Pilsen, Nisa in Liberec, Polus and Campona in Budapest, Felicia in Romania, Ogrody in Poland and two Interspar stores in the Hungarian cities of Zalaegerszeg and Nyiregyhaza are part of the deal. Prime high-street mixed-use complexes Zlatý Anděl in Prague and Andrássy Complex in Budapest, which are a mix of office and retail, are also included. Once the transaction closes, CPI Property Group will double its portfolio of shopping centers to 20 assets totaling 430,000 sqm.
