News Article CPIPG Czech Republic investment loan Poland Slovakia
by Property Forum | Investment

CPI Property Group announced the signing of nearly €500 million of new secured bank loans in 3 CEE countries. CPIPG currently has new bank loans in Poland, the Czech Republic as well as Slovakia.

In Poland, the subsidiary CPI FIM SA signed a €288 million loan encompassing three office properties in Warsaw - Warsaw Financial Center, Eurocentrum, and Equator IV. The loan has a 5-year term and was provided by Aareal Bank.

In the Czech Republic, a subsidiary of CPI FIM SA signed a €58 million 4-year facility with Raiffeisen related to Czech residential assets. The Group also completed an €85 million 7-year facility with CSOB related to retail and logistics assets, plus a €5 million facility (also with CSOB) for a solar energy generation project.

In Slovakia, the subsidiary Immofinanz AG completed a new €58 million 3.5-year loan related to retail park assets. The loan was provided by Raiffeisen as well. “CPIPG appreciates the lending appetite shown by banks across our geographies and market segments, “said Martin Nemecek, CEO of CPIPG. “We will use the proceeds to repay other debt obligations of the Group, in support of our strong liquidity profile."