EQS-News: CPI PROPERTY GROUP – Sale of an office portfolio in Budapest to S IMMO AG

 

CPI Property Group

(société anonyme)

40, rue de la Vallée

L-2661 Luxembourg

R.C.S. Luxembourg: B 102 254

 

Press Release – Corporate News
 

Luxembourg, 8 November 2022

 

CPI PROPERTY GROUP – Sale of an office portfolio in Budapest to S IMMO AG

CPI PROPERTY GROUP (“CPIPG” or the “Group”) and S IMMO AG today entered into an agreement concerning the sale of an office portfolio in Budapest.

The sale comprises eight properties (Gateway Office Park, Arena Corner, Andrássy Palace and the five-part BC99 Office Park) totalling around 109,000 sqm of lettable space with an annual rental income of approximately €16 million, plus one plot of land. The transaction volume amounts to €238.3 million.

The transaction qualifies as a related party transaction and thus is not included in the Group’s €2 billion external disposal pipeline. CPIPG holds 79.20% shares in S IMMO AG.

 

For further information, please contact:

Investor Relations

David Greenbaum
Chief Financial Officer
d.greenbaum@cpipg.com

Moritz Mayer
Manager, Capital Markets
m.mayer@cpipg.com

For more on CPI Property Group, visit our website: www.cpipg.com