EQS-News: CPI PROPERTY GROUP – Sale of retail park portfolio to IMMOFINANZ

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, 19 September 2022

CPI PROPERTY GROUP – Sale of retail park portfolio to IMMOFINANZ

CPI PROPERTY GROUP (“CPIPG”) and IMMOFINANZ AG today entered into an agreement concerning the sale of a retail park portfolio comprised of 53 properties from CPIPG to IMMOFINANZ for EUR 324.2 million.

The fully rented retail portfolio located across the Czech Republic, Poland, Slovakia and Hungary covers about 217,000 sqm of rentable space. The purchase contract was signed today, along with the completed transfer of 36 retail properties in the Czech Republic and Poland representing 108,000 sqm of rentable space. The transfer of the remaining 17 properties in Hungary and Slovakia is expected to take place by year-end.

Further details of the portfolio are as follows:

• Czech Republic: 30 properties with approx. 89,300 sqm of rentable space and an occupancy rate of 98.7%
• Slovakia: 15 properties with approx. 76,200 sqm of rentable space and an occupancy rate of 99.9%
• Poland: 6 properties with approx. 18,200 sqm of rentable space and an occupancy rate of 92.2%
• Hungary: 2 properties with approx. 33,600 sqm of rentable space and an occupancy rate of 100%

The transaction qualifies as a related party transaction for the purposes of the Shareholder Rights Directive II. 

For further information, please contact:

David Greenbaum

Chief Financial Officer
[email protected]

Moritz Mayer

Manager, Capital Markets

[email protected]

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

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