CPI Property Group and S Immo have signed and completed an agreement regarding the sale and purchase of a property portfolio in the Czech Republic.
Under the agreement, CPIPG will sell S Immo the Mayhouse and Luxembourg Plaza office buildings in Prague and the ZET.office in Brno, along with the hotel Courtyard by Marriott Prague City. The four assets have a total asset value of €167.7 million and generate income of close to €8.4 million.
The transaction qualifies as a related party transaction and is not counted as part of the Group’s €2 billion external disposal pipeline. CPIPG owns 88.4% of S Immo shares.
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