March 2017 - Kinstellar has successfully advised Helaba and ČSOB on the Czech law aspects of CPI Property Group‘s acquisition financing of a high-quality mixed-use retail and commercial portfolio in Central and Eastern Europe acquired from CBRE Global Investors. The transaction is valued at over EUR 650 million and includes 11 shopping centers across the Czech Republic, Poland, Hungary and Romania. It is one of the biggest retail real-estate transactions ever to have been completed in the region.
The portfolio is made up of 265,000 sqm of retail and office space, including the Olympia Shopping Center in Pilsen, the Nisa shopping center in Liberec, the Campona and Polus malls in Budapest and the Felicia shopping center in Iasi, Romania. In addition, CPI Property Group is due to take control of Zlatý Anděl in Prague 5 along with the Andrassy complex in Budapest.
The transaction between CPI Property Group and CBRE Global Investors was subject to the approval of the antitrust authorities in the countries concerned. The deal was closed on 29 March 2017.
The Kinstellar team was led by Klára Štěpánková, Partner and head of the firm-wide real estate sector, Leo Javorek, Managing Associate, and Kamil Blažek, Partner.