CBRE Global Investors sells retail portfolio in CEE for €650m

CBRE Global Investors has sold a portfolio of 11 mainly shopping center assets located in Czech Republic, Poland, Romania and Hungary. The portfolio has been sold to CPI Property Group for approximately €650 million ($699 million).

The portfolio has approximately 2.8 million square feet of leasable area, and the assets include:

Multifunctional complex Zlaty Andel in Prague

Olympia Plzen Shopping Center in the Czech Republic

Nisa Liberec Shopping Center in the Czech Republic

Ogrody Shopping Centre in Poland

Andrassy Complex in Budapest

Felicia Shopping Center in Romania

Polus Shopping Center in Hungary

Campona Shopping Center in Hungary

Two Interspar stores in Hungary

The assets are from CBRE Global Investors’ Property Fund Central Europe and Property Fund Central Eastern Europe.

Retail property investment in central and eastern Europe has been active in the past year.

In the