April 03, 2017

Dentons advises CPI Property Group on 11-asset CEE portfolio acquisition

Dentons advises CPI Property Group on 11-asset CEE portfolio acquisition

Dentons advised CPI Property Group on the acquisition of a portfolio of 11 retail assets, including six major regional shopping centers, located in the Czech Republic, Hungary, Poland and Romania. The seller was CBRE Global Investors.

The portfolio, with a total leasable area of approximately 265 thousand sq.m, consists of the Olympia Plzen shopping center and Retail Park, Nisa shopping centre and Zlatý Anděl in the Czech Republic; the Andrássy 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.

In addition to the acqusition, the Dentons team also assisted CPI in refinancing of the centers in Poland, the Czech Republic and Hungary with the following banks: Československá obchodní banka, a. s. and Landesbank Hessen-Thüringen Girozentrale in the Czech Republic, Landesbank Hessen-Thüringen Girozentrale in Poland, and UniCredit Bank Hungary Zártkörűen Működő Részvénytársaság, Raiffeisen Bank Zártkörűen Működő Részvénytársaság, Sberbank Magyarország Zártkörűen Működő Részvénytásaság and Sberbank CZ a.s. in Hungary.

Tomáš Salajka, Member of the Board of CPI, commented: “Dentons’ vast deal experience combined with their local knowledge in each of the relevant markets brought us real commercial value in addition to great legal advice.”

Evan Lazar, Co-Chairman of Dentons’ Global Real Estate Group, who supervised the team of more than 30 real estate lawyers involved in the project, noted that “it was a real pleasure for him to work closely on the transaction with Tomáš Salajka who masterfully negotiated the deal for his company, CPI.”

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