CPI Property Group, the owner of real estate in Berlin, Prague and Warsaw collected more than 95 percent of rent due through Q3 2020. With comparable trends experienced in Q4, the Group expects to report higher levels of rental income, EBITDA and FFO for 2020 relative to 2019. The Group’s office platforms in key Central European capital cities of Berlin, Prague and Warsaw continue to benefit from high occupancy, stable or increasing rentsand near-100% rent collection rates. Leasing activity in Berlin and Warsaw has been robust, with increased like-for-like rents. Occupancy has risen to 93 percent in Warsaw and remains stable at 95 percent in Prague. Recently completed office developments and refurbishments such as Bubenska in Prague along with The Benjamin and Prinzessinnen-Höfein Berlin are 100 percent leased and will contribute rental income to the Group in 2021.
