CPI Property Group has closed on its acquisition of a €650m portfolio of CEE retail assets located primarily in the Czech Republic, Hungary, Poland and Romania. The eleven assets were owned by two funds managed by CBRE Global Investors and total roughly 265,000 sqm of GLA. The largest shopping centers included in the deal are Olympia Plzeň and Nisa Liberec in the Czech Republic, Ogrody in Poland, Polus and Campona in Hungary and Felicia in Romania, along with Zlaty Anděl in Prague and the Andrassy complex in Budapest.
CPI secured €440m in financing for the acquisition through a syndicate of banks involving Helaba and ČSOB in the Czech Republic and by Helaba alone in Poland. UniCredit Bank, Raiffeisenbank and Sberbank backed the deal in Hungary while the Romanian portion was covered by HypoNoe Bank. CPI Property Group as the buyer has been advised throughout the transaction by CBRE (commercial), Dentons (legal), Sentient (technical) and KPMG (financial and tax).
