News Article CPI Property Group Czech Republic hotel investment office S Immo
by Property Forum | Investment

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 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.