CPI Property Group


CPI Property Group an owner of commercial real estate in the Czech Republic, Berlin and Central Europe. The company's headquarters are in Luxembourg, and its shares are listed on the Frankfurt Stock Exchange. The company's key sectors are in office and retail but it also owns hotels, residential, agricultural, industrial and logistics properties and holds land bank property primarily in Prague, Czech Republic. Approximately 78% of CPIPG's properties are located in the Czech Republic and Berlin, with the remaining assets in Hungary, Poland, Slovakia, Croatia, Switzerland, France, Italy, Romania and Russia. The founder and majority shareholder, Radovan Vítek and investment vehicles controlled by him hold 91.5% of CPIPG S.A. shares, and became the majority owner of the company in 2014.

Company

CPI Property Group owns and operates a diversified real estate portfolio valued at €7.5 billion at year-end 2018. The Company's total asset value exceeds €8 billion, with €160 million funds from operations and a net loan-to-value under 37%. In 2018, Czech Republic 51% of the company was located in Czech Republic and 27% in Berlin with land bank and development accounting for 9% of the total portfolio.

History

The history of the former CPI a.s.dates back to 1991. Throughout the 1990s the company expanded its business abroad through acquisitions in Central Eastern Europe. CPI a.s. became a real estate group covering a wide range of business domains, from office buildings and shopping centres to residential and industrial districts, and real estate development. The company acquired a residential portfolio of 12,500 units in the Czech Republic, which is currently operated under the CPI Byty brand. In 2002, the company issued its first bonds on the Czech market. In 2013, the company expanded by its acquisition of the investments and development company ABLON Group Limited, which owned a significant property portfolio in CEE. In 2007, the Group acquired a majority interest in Gewerbesiedlungs-Gesellschaft mit beschränkter Haftung, a real estate group with a property portfolio located exclusively in Berlin. In 2016, the Group acquired a majority stake in Sunčani Hvar d.d., a hotel company operating on the island of Hvar, Croatia; a majority stake in Orco Property Group and CPI Hotels, a.s., a hotel operator which operates 29 of the Group's hotels situated in the Czech Republic, Slovakia, Poland and Hungary. In 2017, the Group acquired a retail portfolio of 11 shopping centres located in Czechia, Hungary, Poland and Romania with a total leasable area of approximately 265,000 sqm from CBRE Global Investors.
CPI Property Group was created by merging Czech Property Investments with Orco, after a hostile takeover.