CPI PROPERTY GROUP - Acquisition of Equator IV office building in Warsaw
CPI PROPERTY GROUP (société anonyme) 40, rue de la Vallée L-2661 Luxembourg R.C.S. Luxembourg: B 102 254 PRESS RELEASE Luxembourg, 7 November 2019
CPI PROPERTY GROUP - Acquisition of Equator IV office building in Warsaw CPI PROPERTY GROUP ("CPIPG" or the "Group"), the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region announces the acquisition of Equator IV, an office building located in central Warsaw, Poland.
Located at Jerozolimskie Aleje (Jerusalem Avenue), Equator IV offers more than 20,800 square metres of gross lettable area and 226 parking spaces. The property benefits from about 90% occupancy with further upside potential and is located close to transport hubs. Equator IV was completed by the seller Karimpol Group in June 2018.
"CPIPG is pleased to complete the purchase of Equator IV, which is a high-quality addition to our existing Warsaw office portfolio," said Tomas Salajka, Head of Acquisitions and Asset Management for CPIPG. "Our acquisition pipeline in Poland is robust and we expect to announce more transactions in the coming weeks and months."
On 8 October 2019, CPIPG announced the Company's intention to acquire more than EUR800 million of high-quality offices in Warsaw during Q4 2019 and early Q1 2020. In the announcement, Green Corner A and Equator IV were specifically cited as near-term opportunities; Equator IV has now closed, while Green Corner A has proceeded to a signed preliminary purchase agreement and is expected to close in late 2019 or early 2020.
"Today marks another important moment in the history of Karimpol Group in Poland. The sale of Equator IV to CPI Property Group proves that the commitment to quality pays off and helps to attract high profile long-term investors," said Harald Jeschek, Managing Partner of Karimpol Group. "We are confident that this building with its excellent tenant roster will gain in value and will be a perfect addition to the impressive CPI Property Group portfolio in Poland."
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07.11.2019 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.deLanguage: 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: firstname.lastname@example.org Internet: www.cpipg.com ISIN: LU0251710041 WKN: A0JL4D Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart EQS News ID: 907801 End of News DGAP News Service