CPI Property Group
We are a leading European real estate group
CPI Property Group (“CPIPG”) owns and operates a diversified, high-quality real estate portfolio valued €7,55 billion as of December 31, 2018.
While the largest sectors of the Group are office and retail, CPIPG also has hotels, residential, industrial, agricultural and logistics properties and holds a land bank primarily in Czechia, of which the largest segment is in Prague.
Approximately 78 percent of CPIPG’s properties are located in Czechia and Berlin, with the remaining properties in Hungary, Poland, Slovakia and Croatia and to a lesser extent Switzerland, France, Italy, Romania, Russia and Great Britain.
The Group has an asset management team which actively manages the portfolio to improve occupancy rent, and tenant mix. The Group conducts asset management at the headquarters level, and at the local level for all key segments and geographies.
Currently, CPIPG is the:
#1 office landlord in Prague
#1 retail landlord in Czechia
#1 office landlord in Berlin
#2 residential landlord in Czechia
The Group’s strategy is focused on our core geographies of Czechia and Berlin, with continued selective investments in CEE and other segments where we can add value.
CPIPG has a conservative financial policy which supports the Group’s investment grade credit ratings.
FOUNDATION OF CPIAS
ACQUISITION OF RESI PORTFOLIO
Purchase of residential portfolios that together make up the current range of 12,500 units under the brand CPI Byty
ISSUANCE OF FIRST BONDS ON THE CZECH MARKET
The Group moves to the forefront of the most significant Czech real estate investors
Acquisition of investments and development company ABLON Group Limited, which owned a significant property portfolio in CEE
INTEGRATION OF CPI & GSG AND ESTABLISHMENT OF CPI PROPERTY GROUP
This step created an extraordinarily strong European property group with a balanced portfolio
QUADRIO PROJECT COMPLETION
Most significant completed development project of CPIPG
MAJOR BONDS OPERATIONS
Active issuance in local bond markets to capture strong credit appetite, further enhancing our funding profile
ACQUISITION OF RETAIL PORTFOLIO FROM CBRE GLOBAL INVESTORS
The largest acquisition of the Group: a retail portfolio of 11 shopping centres in Czechia, Hungary, Poland and Romania
TOTAL PROPERTY PORTFOLIO BREAKING €6 BILLION
FURTHER EXPANSION IN GERMANY
Acquisition of high quality commercial assets in Berlin and close to Karlsruhe
RATING AND SENIOR NOTES ISSUES
Baa3 rating by Moody's and issue of inaugural senior unsecured bond of €825m
The CPI Property Group in its current format was established in 2014 by the combination of the Czech CPI Group portfolio (Czech Property Investments) and German GSG Group (formerly Orco Germany). Radovan Vítek, the new majority owner, brought a property portfolio of great value to the group as well as many years of experience in investing in the Central-European property market.
The GSG Group, founded in 2004, was the leading company in the field of commercial property leasing in Berlin, focusing on investments in real estate, development and property management. Thanks to the acquisition of the German company Gewerbesiedlungs-Gesellschaft (GSG), the GSG Group became the biggest owner of office buildings and shopping space in Berlin in 2007. The portfolio reached more than 850,000 thousand m2 of office space. The year 2014 brought the expansion of activities in the field of property management provided to third parties through Wertpunkt Real Estate Experts GmbH.
The CPI Group, namely its mother company Czech Property Investments, was established in 1991 and has since then continued expanding its activities on the Czech, Slovak, Hungarian and Polish markets across all segments – office buildings, shopping centres and retail parks, industrial zones, development projects and land portfolio. Significant activities include important acquisitions that further strengthened portfolio diversification, for example, in the case of rental accommodation, retail buildings and whole development companies, such as Hungarian Ablon. In 2012, the CPI Group released the first public issue of corporate and project bonds, which were very successful and became an additional source of financing. The Group moved, step by step, to the forefront of the most significant Czech real estate investors.
In June 2014, Radovan Vítek, a property investor, incorporated 100% of the Czech CPI Group into the German GSG Group. This step constituted an extraordinarily strong European property group with a balanced portfolio, which includes a wide range of property in the Czech Republic, Germany, Slovakia, Hungary, Poland and Romania. The extraordinary General Meeting held on 28 August 2014 decided to change the name of the merged group from GSG Group to CPI Property Group.
In 2017, the Group completed its historically biggest acquisition, acquiring a retail portfolio of 11 big shopping centres in the Czech Republic, Hungary, Poland and Romania from funds managed by CBRE Global Investors. They include, for example, the shopping centres Olympia in Plzeň, Nisa in Liberec, Ogrody in Polish Elblag and Polus in Budapest. The acquisition also included the Zlatý anděl administrative complex in Prague 5 and two Hungarian Interspar stores.