CPI Purchase of Fahrenheit Portfolio (CBRE GI CEE)
CATEGORY
Investment deal of the year, CEE
CBRE IP CEE advised CPI on the acquisition of the €650 million Project Fahrenheit portfolio from CBRE Global Investors. The portfolio comprised of 11 mainly shopping centre assets located in Czech Republic, Poland, Romania and Hungary.
Name of the deal
CPI Purchase of Fahrenheit Portfolio (CBRE GI CEE)
The date of closing the deal
March 2017
Value of the transaction (in EUR)
EUR 650 M
Yield
Portfolio of 11 properties. Core portfolio.
Seller, plus brief information about the company
CBRE GI
Consultancy which advised Seller
C&W
Purchaser, plus brief information about the company
The CPI Property Group ranks among the most significant real estate groups focusing on long-term investments and property leases, especially in Central and Eastern Europe and Germany. The Group is active in the field of offices, retail, housing, hotel accommodation, industrial zones, logistic centres and organic farming. It is the biggest retail space owner in the Czech Republic, the second biggest provider of rental housing and one of the biggest hotel owners. Its headquarters are in Luxembourg and its shares are traded on the Frankfurt Stock Exchange.
Consultancy which advised Purchaser
CBRE Investment Properties
Financing institution
Consortium of banks
Current occupancy level
Portfolio, but mostly fully occupied
Please say why this deal should be considered for the award
The first major transaction of a Czech property company across multiple CEE markets spanning retail and some offices.
