CPI Property plans to repay debt with asset-sale proceeds

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – CPI Property Group plans to repay debt with proceeds of the sale of assets in three transactions for almost €80 million and a future sale for about €495 million, according to a news release.

The assets sold included Metrogate House, a student accommodation property in South Kensington, London; Concept Tower, an office building in Warsaw’s inner Wola district; and the Grand Center Zagreb office property.

The asset that is expected to be sold is a portfolio of office and retail properties located in the Czech Republic.

CPS said it remains committed to repaying short-term debt well in advance of maturity and continues to aim for the full repayment of its bridge financing, due October 2026, before the end of June.

CPI Property is a Luxembourg-based real estate company focused on property investments in Central and Eastern Europe.

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