EQS-News: CPI PROPERTY GROUP Sale of Czech Properties to S IMMO

CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254                                                                                                                             

Press Release - Corporate News

Luxembourg, 21 April 2023

CPI PROPERTY GROUP Sale of Czech Properties to S IMMO

CPI PROPERTY GROUP (CPIPG or the Group) and S IMMO AG (S IMMO) today signed and completed an agreement regarding the sale and purchase of a property portfolio in the Czech Republic. 

Under the agreement, CPIPG will sell S IMMO the Mayhouse and Luxembourg Plaza office buildings in Prague and the ZET.office in Brno, along with the hotel Courtyard by Marriott Prague City. The four assets have a total asset value of EUR 167.7 million and generate income of close to EUR 8.4 million.

The transaction qualifies as a related party transaction and is not counted as part of the Groups EUR 2 billion external disposal pipeline. CPIPG owns 88.4% of S IMMO shares.

For further information, please contact:

Investor Relations

David Greenbaum               Moritz Mayer
Chief Financial Officer         Manager, Capital Markets
d.greenbaum@cpipg.com   m.mayer@cpipg.com

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