Sona Asset Management is investing €250m for a stake in a Polish office and retail property portfolio owned by a CPI Property Group (CPIPG) subsidiary.
CPIPG said it has agreed for Sona to make the equity investment for a “significant minority stake” in the CPIPG subsidiary holding the €1bn portfolio of 11 office properties in Warsaw and two retail assets located in Elblag and Lublin.
CPIPG said it will use the proceeds to repay debt and reduce leverage.
David Greenbaum, CEO of CPIPG, said: “Sona will be an excellent partner for CPIPG as we focus on capital structure priorities for 2024 and beyond. By investing alongside CPIPG in Poland, Sona will benefit directly from one of CEE’s strongest economies and most vibrant real estate markets.”
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