DGAP-News: CPI PROPERTY GROUP / Key word(s): Acquisition 
CPI PROPERTY GROUP - Acquisitions in Berlin and Italy 
2021-06-28 / 09:39 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
CPI PROPERTY GROUP 
(société anonyme) 
40, rue de la Vallée 
L-2661 Luxembourg 
R.C.S. Luxembourg: B 102 254 
Press Release 
Corporate News 
Luxembourg, 28 June 2021 
CPI PROPERTY GROUP - Acquisitions in Berlin and Italy 
CPI PROPERTY GROUP (hereinafter "CPIPG", the "Company" or together with its subsidiaries the "Group"), the leading 
owner of income-generating real estate in Berlin, Prague, Warsaw and the CEE region, has prepared the following update 
for our stakeholders regarding recent acquisitions by the Group. 
Acquisitions in Berlin 
In recent years, CPIPG's subsidiary GSG has completed several office developments in Berlin. Each of these developments 
has proven highly successful in terms of occupancy, rent, and value growth. 
Building on this success, GSG intends to continue pursuing development on a modest scale. On 25 June 2021, the Group 
acquired a land plot with an area of 81,500 sqm in Schönefeld directly adjacent to the new airport in Berlin. Also on 
25 June 2021, the Group acquired a 50% stake in three future developments in central Berlin locations for an aggregate 
amount of EUR15.3 million. 
"These acquisitions demonstrate that GSG will pursue the right opportunities to strengthen our leading market position 
in Berlin," said Oliver Schlink, Managing Director and CFO of GSG Berlin. "Investor competition for assets is extremely 
strong, but GSG is highly selective." 
"GSG's office platform is unique in Berlin, because of the historical nature of many of GSG's properties," said 
Sebastian Blecke, Managing Director and COO of GSG Berlin. "Continuing to deliver on well-planned, sustainable 
developments will further enhance our portfolio." 
Acquisitions in Italy 
CPIPG sees Italy as a potential area for expansion. In 2020, the Group acquired majority ownership of Nova RE SIIQ, a 
listed REIT with a property portfolio valued at more than EUR120 million. CPIPG intends to continue investing in Nova RE 
over time along with potential long-term partners. 
For several years, the Group has engaged in discussions with Italian banks and entrepreneurs about bespoke 
restructuring transactions involving the purchase of loans from banks at steep discounts, combined with agreements to 
purchase equity from a founder or entrepreneur. 
On 25 June 2021 the Group acquired a portfolio of assets which originated from the restructuring of loans from 
UniCredit to an Italian family company. The portfolio primarily consists of Maximo, which opened in October 2020 as the 
first new shopping centre in Rome for more than 15 years. Maximo boasts nearly 100% occupancy, a 59,514 sqm location 
along Via Laurentina in the South of Rome and includes the first Primark in Rome. Through the restructuring, the Group 
also acquired 404,400 sqm of land for development in the Tor di Valle area of Rome, along with other small assets in 
Italy. 
The transaction was structured with the help of the Group's majority shareholder, Radovan Vitek, who purchased the 
equity first in order to enable CPIPG's engagement in the restructuring while ring-fencing the Group's exposure to 
unrestructured loans. Now that the restructuring has been completed, and the loans purchased from the bank with a steep 
discount, the Group finished the transaction by purchasing the equity from our majority shareholder. The total 
consideration paid by CPIPG represented a meaningful discount to the expected market value, and consisted of EUR318 
million including a EUR114.5 million reduction in shareholder loans. 
"CPIPG's expansion into Italy will be driven by careful asset selection and discipline on price," said Martin Nemecek, 
CEO of CPIPG. "We see a clear opportunity to use our skills and expertise to gradually build a platform." 
For further information please contact: 
Investor Relations 
David Greenbaum 
Chief Financial Officer 
d.greenbaum@cpipg.com 
Joe Weaver 
Director of Capital Markets 
j.weaver@cpipg.com 
For more on CPI Property Group, visit our website: www.cpig.com 
Follow us on Twitter (CPIPG_SA) and LinkedIn 
 
=---------------------------------------------------------------------------------------------------------------------- 
2021-06-28 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.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     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:       contact@cpipg.com 
Internet:     www.cpipg.com 
ISIN:         LU0251710041 
WKN:          A0JL4D 
Listed:       Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart 
EQS News ID:  1212654 
 
End of News   DGAP News Service 
=------------

1212654 2021-06-28


 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1212654&application_name=news

(END) Dow Jones Newswires

June 28, 2021 03:39 ET (07:39 GMT)