CPI Property Group executed €731 million of disposals during the first three quarters of 2023. During the period, the Group has also signed multiple secured bank loans and continued to raise senior unsecured debt, contributing to a total of almost €1.2 billion in new external financing year to date.
CPI Property Group (CPIPG) announced the signing of an agreement concerning the disposal of the ski resort business in Crans Montana in Switzerland. It is a binding agreement for the sale of part of the shares to an American mountain resort company Vail Resorts. The gross transaction value is more than CHF 100 million (€105 million).
CPI Property Group has signed an agreement about selling two companies which own and operate resort hotels on the island of Hvar in Croatia. The agreement concerns the disposal of Sunčani Hvar Hotels, the company announced. The full purchase price has been deposited with an escrow agent, but the amount of the price was not specified.
According to CPI Property Group's financial results for H1 2023, the group's rental income continues to rise, even as it works on its disposal and deleveraging plans. The group's CEO expects a similar trend for the rest of the year.
Immofinanz Group recorded strong growth in both rental income and operating results in the first half of 2023. Rental income rose by nearly 80% year-on-year to €258.9 million and, at €216.8 million, the results of asset management were 97.1% higher than the first half of the previous year. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to €118 million and €140.9 million, respectively.
CPI Property Group has announced the acquisition of a 25% stake in CleverPower. The company focuses on corporate energy self-sufficiency and electromobility and also operates the Chargee charging platform. By 2030, they will build up to three thousand new charging points not only in the Czech Republic, CPI Property Group announced today.
The Supervisory Board of Immofinanz has appointed Pavel Měchura to the Executive Board, effective immediately. The Immofinanz Executive Board will now include two members: Radka Doehring and Pavel Měchura. Also effective 16 June, Radka Doehring has become a member of the Executive Board of S Immo.
Given CPI Property Group’s recent acquisition of Immofinanz and S Immo, the company is more focused on implementing its integration strategy, rather than necessarily looking at new acquisitions, says Mindee Lee, Board Secretary and Senior Manager of Corporate Strategy at CPIPG, in an exclusive interview with Property Forum.
Confectionery Batida has joined the tenants of the LIXA City Gardens retail concept that is being arranged in the LIXA office complex near the Daszyński Roundabout in Warsaw.
Vileda expanded its office located in MyHive IO-1 in Warsaw, owned by CPI Property Group, to 712 sqm. Przemysław Urbański from Avison Young Poland supported Vileda in the negotiation process.
The LUX MED Group extended a 2,200 sqm lease agreement in the O3 Business Campus in Kraków managed by EPP
Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
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