CPI Property Group
We are the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region
CPI Property Group (“CPIPG” or “the Group”) owns and operates a large, diversified and high-quality real estate portfolio valued at €10.3 billion as of December 31, 2020.
The Group´s portfolio is highly diversified, comprising of office properties (52%, primarily Berlin, Prague, Warsaw and Budapest), followed by retail assets (22%, primarily dominant, regional shopping centres and retail parks in the Czech Republic, as well as Poland and Hungary). CPIPG also owns hotels and resorts (7%), residential properties (9%), land bank (8%), development, industrial, agricultural and logistics properties (3%).
66% of CPIPG’s properties are located in the Czech Republic (41%) and Berlin (25%), with the remaining properties spread across strong markets in the CEE region such as Poland and Hungary (30%) and to a lesser extent, Western Europe (4%).
The group operates in four key clusters where we have market-leading platforms that benefit from scale, experience and active asset management:
Czech Republic – Our history in the Czech Republic dates back to the founding of Czech Property Investments, a.s. in 1991 by the Group's primary shareholder, Radovan Vítek. This is CPIPG's largest market, where our experience and local expertise are unparalleled. We are the #1 office landlord in Prague, the #1 retail landlord and #2 residential landlord in the Czech Republic.
Berlin – Through our subsidiary, Gewerbesiedlungs-Gesellschaft mbH (“GSG”), we are the largest owner of commercial property in Berlin with nearly 1 million m2 of office space.
Hotels & Resorts – CPIPG owns and operates diverse range of hotels primarily located in Czech Republic and the CEE region. We are no. 1 congress and convention hotels provider in the Czech Republic and the no 1. resorts provider in Hvar, Croatia.
Complementary Assets – The complementary assets portfolio primarily consists of the Group's platforms in Hungary and Poland. This segment also includes investments in Slovakia, France, Italy, the UK and Romania.
The Group’s strategy is to continue growing its portfolio in the CEE region, with a primary focus on offices in Prague, Berlin, Warsaw and other major cities.
CPIPG has investment grade credit ratings from international rating agencies S&P (BBB), Moody’s (Baa2) and Japan Credit Rating Agency (A-), which have enabled the Group to become a frequent and well-established issuer in the international bond markets since 2017 across multiple currencies and instruments.
FOUNDATION OF CPI a.s.
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
TOTAL PROPERTY PORTFOLIO BREAKING €7 BILLION
CAPITAL STRUCTURE TRANSFORMATION
Hybrid bonds and senior unsecured bonds in EUR, CHF and JPY used to repay secured / subsidiary debt
POSITIVE RATING DEVELOPMENTS
New BBB rating by S&P, upgrade to Baa2 by Moody's, new A- rating from Japan Credit Rating Agency
TOTAL PROPERTY PORTFOLIO APPROACHING €8 BILLION
BERLIN PORTFOLIO EXCEEDS €2BN
CONTINUED CAPITAL STRUCTURE TRANSFORMATION
Inaugural green bond issuance. Unsecured bonds issued in EUR, HKD and USD currencies. Further hybrid issuance and inaugural Schuldschein issuance. New €510m RCF
OFFICE LEADER IN WARSAW
CPIPG announced plans to invest more than €800m in our Warsaw office platform; over €560 million completed in Q4