CPI Property Group

CPIPG CPI Property Group


We are the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region



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Track record of execution in our core regions of the Czech Republic, 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 the Czech Republic and Berlin
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Office landlord in Prague and Berlin, retail landlord in the Czech Republic
BBB / Baa2 / A-
investment grade credit ratings from S&P, Moody’s and JCRA
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Occupancy rate across our portfolio
CPI Property Group is the leading long-term owner of income-generating real estate in the Czech Republic, 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” 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.



Management



Martin Němeček

CEO

Zdeněk Havelka

Executive Director

Tomáš Salajka

Director of Acquisitions, Asset Management & Sales

David Greenbaum

CFO

Pavel Měchura

Group FInance Director

Jan Kratina

Director of CPI Hotels

Historical Milestones

1991

FOUNDATION OF CPI a.s.

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

2018

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

 


2019

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







CPI