Czech Property Investments (CPI), a Prague-based company owned by financier Radovan Vitek, is in negotiations to buy the 25,000-m[sup]2[/sup] City Park Jihlava regional shopping centre for some EUR 80 mln in an off-market deal with local developer PSJ Invest, PropertyEU has learnt. Closing is expected by year-end, according to well-informed market sources.
Czech Property Investments (CPI), a Prague-based company owned by financier Radovan Vitek, is in negotiations to buy the 25,000-m2 City Park Jihlava regional shopping centre for some EUR 80 mln in an off-market deal with local developer PSJ Invest, PropertyEU has learnt. Closing is expected by year-end, according to well-informed market sources.
CPI declined to comment on Tuesday.
Completed in October 2008, City Park Jihlava was designed by architects Tomás Pilaø and Ladislav Kuba. It offers 25,000 m2 of retail space on three floors and 850 parking spaces. Main tenants are Interspar, C&A, Cine Star, Marks & Spencer, and Adidas.
Earlier this month CPI bought a portfolio of 19 office buildings from PPF Group. It paid almost CZK 5.4 bn (EUR 217 mln) for the assets located in and around Prague. In total, the assets comprise 122,000 m2 of fully let office accommodation. The deal followed the acquisition in August of a 50% stake in Copa Centrum Narodni, a 28,000 m2 office and retail scheme in the heart of Prague. Developer Copa is retaining the other 50%.
