CPI Property Group announced the signing of a binding agreement for the sale of a portfolio totalling 11 properties located in the Czech Republic to S Immo. The transaction property value is €481 million. 

CPI Property Group has announced changes to the company’s Board of Directors and senior management team. David Greenbaum, CFO of the Group since 2018, has been appointed CEO and managing director and was co-opted to CPIPG’s Board of Directors. David replaces Martin Němeček, who resigned from his roles of CEO, managing director, and member of the board of directors. After a short break, Martin will remain with CPIPG in a newly created senior role focused on high-value projects.

Barbara Topolska, Country Manager for Poland at CPI Property Group has talked to Property Forum about the acquisition of Immofinanz, ESG contributions and the current financing conditions.

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.

Tailor-made leases are essential in both the office and retail segments in Hungary too. Property Forum asked Mátyás Gereben, Country Manager of CPI Hungary about the relevant plans of the leading landlord and developer. 

In the year 2022, CPI Property Group became one of Europe's largest landlords. The CPIPG portfolio reached €20.9 billion, about €7.8 billion more than the year before due to several consolidations. Consolidated adjusted EBITDA was €608 million, while FFO1 was €355 million.

Immofinanz is taking another important step in optimising its portfolio by selling an office property in Vienna. The Bureau am Belvedere building, with nearly 9,000 sqm of space, was sold to an Austrian investor.

Immofinanz Group delivered very good operating performance in 2022 in spite of the challenging environment. Sustainable FFO 1 from the standing investment business rose by 21.7%. Rental income increased by 5.4% to €300.2 million and the results of asset management by 7.2% to €226.1 million. The Group also has a very solid capital base with an equity ratio of 47.9% and conservative debt with a net LTV of 40.7%.

CPI Property Group has announced the completion of the modernization process of the myhive Victoria Park building in Bucharest. The building completes the myhive building portfolio in Bucharest, which includes 4 other properties, including myhive S-Park, myhive Metroffice, myhive IRIDE | nineteen and myhive IRIDE | twenty.

In the first three quarters of 2022, Immofinanz’s rental income reached a high €216.9 million, the results of asset management improved by 3.2% to €168.4 million, and sustainable FFO 1 from the standing investment business (including the S Immo dividend) rose by more than 15% to €115.9 million. Net profit equalled €248.6 million.