CPI Property Group

CPIPG CPI Property Group


We are a leading European real estate group



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Track record of execution in our core regions of Czechia, Berlin and the CEE region
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Property portfolio consisting of high quality, long-term, income generating properties
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of our property portfolio is located in Czechia and Berlin
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Owner of property in Czechia Owner of offices in Berlin
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of our portfolio is in office and retail, followed by hotels and Czechia residential
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Occupancy rate across our portfolio has shown consistent improvement
CPI Property Group is a leading long-term investor in income-generating real estate, primarily in Czechia, Berlin and the CEE region. The Group’s headquarters are in Luxembourg and its shares are listed on the Frankfurt Stock Exchange.

CPI Property Group (“CPIPG”) owns and operates a diversified, high-quality real estate portfolio valued  €7 billion as of June 30, 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 and Russia.

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.



Management



Martin Němeček

CEO

Zdeněk Havelka

Executive Director

Tomáš Salajka

Director of Acquisitions, Asset Management & Sales

David Greenbaum

CFO

Pavel Měchura

Group FInance Director

History

1991

FOUNDATION OF CPIAS

1999-2003

ACQUISITION OF RESI PORTFOLIO

Purchase of residential portfolios that together  make up the current range of 12,500 units  under the brand CPI Byty


2002

ISSUANCE OF FIRST BONDS ON THE CZECH MARKET

The Group moves to the forefront of the most significant Czech real estate investors




2013

EXPANSION ABROAD

Acquisition of investments and development company ABLON Group Limited, which owned a significant property portfolio in CEE


2014

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 


2016

MAJOR BONDS OPERATIONS

Active issuance in local bond markets to capture strong credit appetite, further enhancing our funding profile



2017

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.

CPI