S IMMO AG today signed a non-binding letter of intent (LOI) with Czech Property Investments, a.s. (“CPI AS”), a subsidiary of CPI Property Group S.A., regarding the acquisition of a property portfolio in the Czech Republic. The portfolio consists of office and retail buildings with a gross lettable area of around 134,600 m² and an overall total net asset value of approximately EUR 494.5m. The annual rental income adds up to around EUR 28m.
