Helaba provides 354 mln euro loan for CPI retail purchase
Helaba is providing a 354 mln euro loan to the CPI Property Group for the acquisition of four shopping centres in the Czech Republic and Poland. The portfolio consists of the shopping centres “Nisa” in Liberec and “Olympia Plzen” in Pilsen, the office and commercial building “Zlaty Andel” in Prague as well as the “Ogrody” in Elblag, Poland.
The Czech properties are being financed in a club deal with ČSOB (Helaba 60 percent, CSOB 40 percent).
Michael Kröger, Head of Real Estate Finance International at Helaba said, “Helaba has been active in the region for more than a decade and has built up a substantial track record. We have been able to establish valuable relationships, such as with CPI and CSOB. This transaction once again confirms the stable outlook for CE markets, which is also an integral part of Helaba’s strategy.”
The transaction is part of CPI’s purchase of eleven retail properties in the Czech Republic, Hungary, Poland and Romania from real estate funds managed by CBRE Global Investors with a total value of around 650 mln euro. Martin Němeček, CEO of the CPI Property Group, said, “This transaction, which might be the region’s largest real estate deal of the year, represents yet another milestone for the CPI Property Group that underscores our ability to deliver exceptional transactions within the current competitive environment.”
Press Release by Helaba