CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
PRESS RELEASE
Luxembourg, 5 December 2019
CPI PROPERTY GROUP - Warsaw Financial Center Acquisition and Green Portfolio Update
CPI PROPERTY GROUP ("CPIPG" or the "Group"), the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region, announces the acquisition of the prestigious Warsaw Financial Center ("WFC") office building in Warsaw, Poland.
About Warsaw Financial Center
CPIPG acquired WFC by purchasing 100% of shares in a company owned since 2012 by Allianz Real Estate (acting on behalf of Allianz Group companies) and Curzon Capital Partners III, an investment core-plus fund managed by Tristan Capital Partners.
Located at the intersection of Emilii Plater and Świętokrzyska Streets in Central Warsaw, WFC is one of the most prestigious high-rise buildings in Warsaw providing 50,000 square meters of grade-A office space across 32 floors. WFC is certified LEED gold and is 99% occupied by notable tenants including Google, Bloomberg and Kompania Piwowarska (owned by the Asahi group of Japan).
"CPIPG is pleased with the quality of our acquisitions in Warsaw. We are on track to meet our goal of investing more than €800 million in Warsaw by early 2020," said Martin Nemecek, CEO of CPIPG. "Our ample cash balances and access to attractive financing will allow CPIPG to continue pursuing opportunities to invest in our business and capital structure going forward."
Matt Lunt, Executive Director, Portfolio and Asset Management at Tristan Capital Partners, said: "When we first acquired WFC we undertook major refurbishments to the entrance and ground floor lobby areas and have worked steadily to increase occupancy to 99%, with tenants including leading Polish and international corporations. WFC is now a highly sought-after institutional quality asset, which offers modern design and excellent environmental credentials in Warsaw's CBD."
Update on CPIPG's Green Property Portfolio
On 27 November 2019 CPIPG announced the acquisition of Eurocentrum, which is certified LEED Platinum and is the largest green-certified office complex in Warsaw. Including both Eurocentrum and WFC, the level of green certification in CPIPG's portfolio is expected to rise from 8% (of total GLA) at the end of 2018 to more than 16% by the end of 2019.
"CPIPG will continue to prioritize green acquisitions wherever possible across our region," said Tomas Salajka, Head of Asset Management and Acquisitions for CPIPG. "Green properties operate efficiently and will benefit from sustained value and tenant demand over the long-term."
For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com
For further information please contact:
INVESTORS
CPI PROPERTY GROUP
David Greenbaum
Chief Financial Officer
[email protected]
CPI PROPERTY GROUP
Joe Weaver
Director of Capital Markets
[email protected]
MEDIA/PR
Kirchhoff Consult AG
Andreas Friedemann
Borselstraße 20
22765 Hamburg
T +49 40 60 91 86 50
F +49 40 60 91 86 60
E [email protected]
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