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CPI PROPERTY GROUP – Sale of retail park portfolio to IMMOFINANZ

·2-min read

EQS-News: CPI PROPERTY GROUP / Key word(s): Real Estate
CPI PROPERTY GROUP – Sale of retail park portfolio to IMMOFINANZ
19.09.2022 / 17:52 CET/CEST
The issuer is solely responsible for the content of this announcement.

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
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

Follow us on Twitter (CPIPG_SA) and LinkedIn


19.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

CPI PROPERTY GROUP

40, rue de la Vallée

L-2661 Luxembourg

Luxemburg

Phone:

+352 264 767 1

Fax:

+352 264 767 67

E-mail:

contact@cpipg.com

Internet:

www.cpipg.com

ISIN:

LU0251710041

WKN:

A0JL4D

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart

EQS News ID:

1445621


 

End of News

EQS News Service

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