ARTICLES LABELLED WITH TAG CPIPG

CPI Property Group executed €731 million of disposals during the first three quarters of 2023. During the period, the Group has also signed multiple secured bank loans and continued to raise senior unsecured debt, contributing to a total of almost €1.2 billion in new external financing year to date.

CPI Property Group (CPIPG) announced the signing of an agreement concerning the disposal of the ski resort business in Crans Montana in Switzerland. It is a binding agreement for the sale of part of the shares to an American mountain resort company Vail Resorts. The gross transaction value is more than CHF 100 million (€105 million).

CPI Property Group has signed an agreement about selling two companies which own and operate resort hotels on the island of Hvar in Croatia. The agreement concerns the disposal of Sunčani Hvar Hotels, the company announced. The full purchase price has been deposited with an escrow agent, but the amount of the price was not specified.  

According to CPI Property Group's financial results for H1 2023, the group's rental income continues to rise, even as it works on its disposal and deleveraging plans. The group's CEO expects a similar trend for the rest of the year.

Immofinanz Group recorded strong growth in both rental income and operating results in the first half of 2023. Rental income rose by nearly 80% year-on-year to €258.9 million and, at €216.8 million, the results of asset management were 97.1% higher than the first half of the previous year. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to €118 million and €140.9 million, respectively.

Immofinanz has announced the sale of the Twin Towers on Wienerbergstrasse in Vienna to S Immo.

CPI Property Group announced the signing of nearly €500 million of new secured bank loans in 3 CEE countries. CPIPG currently has new bank loans in Poland, the Czech Republic as well as Slovakia.

CPI Property Group has announced the acquisition of a 25% stake in CleverPower. The company focuses on corporate energy self-sufficiency and electromobility and also operates the Chargee charging platform. By 2030, they will build up to three thousand new charging points not only in the Czech Republic, CPI Property Group announced today.

The Supervisory Board of Immofinanz has appointed Pavel Měchura to the Executive Board, effective immediately. The Immofinanz Executive Board will now include two members: Radka Doehring and Pavel Měchura. Also effective 16 June, Radka Doehring has become a member of the Executive Board of S Immo.

Given CPI Property Group’s recent acquisition of Immofinanz and S Immo, the company is more focused on implementing its integration strategy, rather than necessarily looking at new acquisitions, says Mindee Lee, Board Secretary and Senior Manager of Corporate Strategy at CPIPG, in an exclusive interview with Property Forum.