CPI Property Group will acquire eleven retail properties, including six major regional shopping centers, in the Czech Republic, Hungary, Poland and Romania.
Dentons advised CPI Property Group on the acquisition of a portfolio of 11 retail properties from CBRE Global Investors. The completion of the transaction is expected still in Q1, pending regulatory approvals in the Czech Republic and Hungary.
The portfolio, with a total leasable area of approximately 265,000m², consists of the Olympia Plzen shopping center and Retail Park, Nisa shopping centre and Zlaty Andel in the Czech Republic; the Andrassy Complex, Polus shopping centre, Campona shopping centre and two Interspar retail warehouses in Hungary; the Ogrody shopping center in Poland; and the Felicia shopping center in Romania.
Evan Z. Lazar, Co-Chairman of the Dentons Global Real Estate Group - with support from Stewart Middleman and Marketa Tvrda in Prague – represented CPI Property Group in the negotiations. Dentons lawyers based in London, Budapest, Warsaw and Bucharest, including Judit Kovari, Marcell Szonyi, Monika Sitowicz, Lukasz Zwiercan, Perry Zizzi, Bogdan Papandopol and others, also assisted CPI on the project.
CPI Property Group is a leading real estate company concentrating on long-term investments, real estate lease and asset management in CEE and Germany. CBRE Global Investors is one of the world’s largest real estate investment management firms.
