Dentons advised CPI Property Group on the acquisition of a portfolio of 11 retail properties from CBRE Global Investors, including six major regional shopping centers located in the Czech Republic, Hungary, Poland and Romania. The transaction has been completed following the approvals received from Czech and Hungarian regulators.

The portfolio, with a total leasable area of approximately 265 thousand sq.m, consists of the Olympia Plzen shopping center and Retail Park, Nisa shopping centre and Zlatý Anděl in the Czech Republic; the Andrássy Complex, Polus shopping centre, Campona shopping centre and two Interspar retail warehouses in Hungary; the Ogrody shopping center in Poland; and the Felicia shopping center in Romania. 

In addition to the acquisition, the Dentons team also assisted CPI Property Group in the refinancing of the centers in Poland, the Czech Republic and Hungary, which involved the following banks: Československá obchodní banka, a. s. and Landesbank Hessen-Thüringen Girozentrale in the Czech Republic; Landesbank Hessen-Thüringen Girozentrale in Poland; and UniCredit Bank Hungary Zártkörűen Működő Részvénytársaság, Raiffeisen Bank Zártkörűen Működő Részvénytársaság, Sberbank Magyarország Zártkörűen Működő Részvénytásaság and Sberbank CZ a.s. in Hungary.

Tomáš Salajka, Member of the Board of CPI, commented: “Dentons’ vast deal experience combined with their local knowledge in each of the relevant markets brought us real commercial value in addition to great legal advice.”

Evan Lazar, Co-Chairman of Dentons’ Global Real Estate Group, who supervised the team of more than 30 real estate lawyers involved in the project, noted, “It was a real pleasure to work closely on the transaction with Tomáš Salajka who masterfully negotiated the deal for his company, CPI.”

CPI Property Group is a leading real estate company concentrating on long-term investments, real estate lease and asset management in CEE and Germany. CBRE Global Investors is one of the world’s largest real estate investment management firms.

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