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CPI buys Hungarian malls

The long-term real estate investment and leasing company CPI headquartered in Luxembourg informed the Hungarian News Agency MTI on Tuesday, that the CPI Property Group concluded a framework purchase agreement regarding eleven commercial estates with several funds managed by CBRE Global Investors in Hungary, Czech Republic, Poland and Romania.
This real estate portfolio consists almost 265 thousand square metres property leasing. CPI's Hungarian commercial estates comprise the Pólus and Campona malls in Budapest, a property located in Andrássy Boulevard and Interspar department stores in Zalaegerszeg and Nyíregyháza cities.
 
Associated companies of the CPI Property Group realise these transactions if the Hungarian and Czech competition authorities approve them. CPI will submit the required documents to the responsible authorities.
 
According to Martin Němeček, CEO of the CPI Property Group, these transactions to be realised in the first quarter, could be the most important ones in the region.
 
The press release refers to Tomá Salajka as well, the CPI Property Group's director responsible for acquisition, property management and sales, who disclosed that their portfolio increased approximately to 430 thousand square metres thus it more than doubled the renting space in malls managed by them. At the same time the number of malls of their portfolio increased to 20.
 
 In line with the information published on the homepage of CPI Hungary the CPI Property Group has been made up of the Czech CPI Group and the German GSH Group. This company listed on the Frankfurt stock exchange and headquartered in Luxembourg manages 3,82 million square metres, which commercial estate totals more than 4,1 milliard Euros.
 
CPI Property Group is present primarily in Germany, Central and Eastern Europe. The group has investments and associated companies in ten European countries.
 
The CPI Hungary belongs to the CPI Property Group and manages its Hungarian portfolio consisting of almost 202 thousand square metres running up to 316 million Euros. The company is also active in the field of commercial and industrial logistics. 
 
Source: MTI i.e. the Hungarian News Agency
http://trademagazin.hu/bevasarlokozpontokat-magyar-aruhazakat-vasarol-cpi-regioban/