CEE and Germany-focused investor CPI Property Group has inked a deal with CBRE Global Investors to acquire eleven retail properties in the Czech Republic, Hungary, Poland and Romania for an undisclosed sum.
The portfolio, which comprises a total leasable area of approximately 265,000 m2, includes six major regional shopping centres.
The assets in the portfolio are the Olympia Plzen shopping centre, Retail Park Nisa shopping centre and Zlatý Andel in the Czech Republic, the Andrássy Complex, Polus shopping centre, Campona shopping centre and two Interspar retail warehouses in Hungary, the Ogrody shopping centre in Poland, and the Felicia shopping centre in Romania.
International law firm Dentons represented CPI in the negotiations.
The completion of the transaction is expected within Q1, pending regulatory approvals in the Czech Republic and Hungary.
