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08.10.2019 - 18:00:20

CPI PROPERTY GROUP - Acquisition Strategy Update

CPI PROPERTY GROUP (société anonyme) 40, rue de la Vallée L-2661 Luxembourg R.C.S. Luxembourg: B 102 254 PRESS RELEASE Luxembourg, 8 October 2019

CPI PROPERTY GROUP - Acquisition Strategy Update

CPI PROPERTY GROUP ("CPIPG" or the "Group"), the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region, has prepared an update for our key stakeholders regarding the Group's acquisition strategy and pipeline.Warsaw Office Pipeline CPIPG expects to acquire more than EUR800 million of high-quality offices in Warsaw, Poland during Q4 2019 and early Q1 2020. Our team in Warsaw has identified eight properties totaling more than 235,000 sqm and has signed letters of intent (with exclusivity) on assets valued at more than EUR700 million. Properties under consideration can generally be characterized as "core plus," in central Warsaw locations. Transaction sizes are expected to range between EUR30 million and EUR200+ million, with the majority expected to close before the end of 2019. Two acquisitions in CPIPG's pipeline are expected to be signed in the coming days: Green Corner A and Equator IV. Both assets are centrally located in Warsaw and represent more than 35,000 sqm of GLA with high occupancy and solid green credentials.

"CPIPG has a highly experienced team in Poland and our existing Warsaw office assets have performed well," said Tomas Salajka, Head of Acquisitions and Asset Management for CPIPG. "Office market conditions in Warsaw are favorable, fueled by the robust Polish economy and excess demand for space from international and local tenants. CPIPG intends to purchase properties in a disciplined manner to capture attractive yields representing excellent long-term value."Other Opportunities Property markets in the Czech Republic and Berlin continue to benefit from high demand and limited availability of attractively priced assets. CPIPG is disciplined on pricing but maintains a close watch on possible acquisitions in our regions. While the Group is primarily focused on office acquisitions, CPIPG will continue to consider other property investments which fit our areas of expertise and long-term strategy.Impact on CPIPG's Portfolio and Credit Profile The Group's acquisition strategy is guided by CPIPG's financial policy, which is focused on improving CPIPG's credit ratings and maintaining financial flexibility. The Warsaw office acquisitions are expected to improve CPIPG's scale, diversification and level of rental income, while increasing the Group's portfolio of green certified buildings. The Czech Republic and Berlin will remain more than 70% of the Group's portfolio, with Poland expected to increase to 10% or more. The proportion of retail exposure in the Group's portfolio is also expected to decline.Funding Strategy CPIPG can comfortably fund our acquisition pipeline with existing sources of liquidity, which totaled about EUR1.5 billion at the end of June 2019 (cash and undrawn revolving credit facilities). In order to maintain a high degree of flexibility, CPIPG may seek to replenish cash balances by issuing senior unsecured bonds. The Group also continues to evaluate offers for potential loans (secured and unsecured) with attractive pricing.

For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com

For further information please contact:


CPI PROPERTY GROUP David Greenbaum Chief Financial Officer d.greenbaum@cpipg.com

CPI PROPERTY GROUP Joe Weaver Director of Capital Markets j.weaver@cpipg.com


Kirchhoff Consult AG Andreas Friedemann Borselstraße 20 22765 Hamburg T +49 40 60 91 86 50 F +49 40 60 91 86 60 E andreas.friedemann@kirchhoff.de

08.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: CPI PROPERTY GROUP 40, rue de la Vallée L-2661 Luxembourg

Luxemburg Phone: +352 264 767 1 Fax: +352 264 767 67 E-mail: contact@cpipg.com Internet: www.cpipg.com ISIN: LU0251710041 WKN: A0JL4D Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart EQS News ID: 887235   End of News DGAP News Service

887235  08.10.2019 

@ dgap.de