Czech real estate investor CPI Property Group (CPIPG) has agreed to sell a retail park portfolio to Austrian real estate company Immofinanz for €324.2 million.
The fully rented retail portfolio comprised of 53 properties located across the Czech Republic, Poland, Slovakia and Hungary covers about 217,000 sqm of rentable space. y y
The purchase contract was signed on 19 September 2022, 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.
