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CPI Property Group sells 49% in Vulcanion for €250m
Transactions - JUNE 26, 2024

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CPI Property Group sells 49% in Vulcanion for €250m

by Released

CPI Property Group has plans to sell its 49 percent common equity stake in Vulcanion for €250 million ($268 million) to funds managed by Sona Asset Management.

Vulcanion is a holding company owning 11 office properties in Warsaw and two retail assets in Elbląg and Lublin, Poland. The portfolio’s gross asset value is approximately €1 billion ($1.1 billion). Three of the office properties will remain encumbered by a green loan from Aareal Bank that matures in 2028.

“CPIPG is excited about our partnership with Sona,” said David Greenbaum, CEO. “This investment demonstrates the quality of our operations and assets in Poland and the group’s ability to attract strong capital partners.”

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