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.