IFLR1000

CPI Property Group €650 million acquisition of CBRE CEE property portfolio

29/3/2017
Real estate acquisition
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€ 650 million

$ 701.74 million

Completed

29/3/2017

Overview:

  • CPI Property Group acquired a portfolio of 11 commercial properties in Central and Eastern Europe (CEE) for €650 million​ from CBRE Global Investors. 
  • CPI and CBRE are both real estate investors.
  • The portfolio included two shopping malls, Olympia Plzen and Nisa, and an office building, Zlatý Anděl, in the Czech Republic; the Andrássy complex, malls Polus and Campona and two Interspar warehouses in Hungary; the Ogrody mall in Poland; and the Felicia mall in Romania. 
  • CPI financed the deal partially with a €440 million loan from a syndicate of Helaba, ČSOB, Unicredit, Raiffeisenbank, Sberbank, and HypoNoe Bank, providing the remainder of the fee from its cash reserves. 

Ben Naylor - Regional editor

Jurisdictions:

Czech Republic
Hungary
Poland
Romania

Deal type:

Real estate acquisition

Practice area:

Real estate acquisitions

Governing laws:

Poland
Czech Republic
Hungary

Industry sector:

Real estate

Firms:
BSJP Brockhuis Jurczak Prusak Sroka Nilsson

Party: Landesbank Hessen-Thuringen (Lender)

Clifford Chance

Party: CBRE (Seller)

Lawyer: Emil Holub

Dentons

Party: CPI Property Group (Acquirer, Borrower)

Lawyers: Bogdan Papandopol, Evan Lazar, Judit Kővári, Marcell Szőnyi, Markéta Tvrdá, Monika Sitowicz, Perry Zizzi, Stewart Middleman

DLA Piper Hungary

Party: Unicredit Bank (Lender)

Party: Raiffeisenbank (Lender)

Party: Sberbank Europe (Lender)

Lawyer: Gábor Borbély

Kinstellar

Party: Helaba (Lender)

Party: Československá obchodná banka (Lender)

Lawyers: Kamil Blažek, Klára Štěpánková

Szécsényi and Partners

Party: CBRE (Seller)

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