CPI Europe completes property sales in Vienna and Prague as part of portfolio optimization

CPI Europe has completed the sale of multiple properties in Vienna and Prague, aligning with its broader strategy to optimize its portfolio. The transactions, which include two office properties in Vienna, the Ramada hotel in Prague, and the myhive Pankrac House office complex, represent a total deal value of approximately EUR 115 million, closely reflecting the most recent valuation of these assets. The net proceeds from these sales amounted to around EUR 48 million.

The decision to sell these properties is part of CPI Europe’s ongoing effort to streamline its real estate portfolio and focus on assets that align with its long-term strategic objectives. By divesting non-core assets, the company aims to strengthen its financial position and enhance capital allocation towards high-performing properties that offer greater growth potential.

In Vienna, the two office properties sold were part of CPI Europe’s extensive office holdings in the Austrian capital. These buildings had been part of the company’s investment portfolio but were deemed less central to its future strategy. The sales reflect the strong demand for office space in Vienna, where well-located properties continue to attract investors seeking stable returns.

In Prague, the disposal of the Ramada hotel and the myhive Pankrac House office complex is in line with CPI Europe’s selective approach to asset management. The myhive Pankrac House, located in one of Prague’s key business districts, has been a recognized office destination, while the Ramada hotel had been a longstanding part of the city’s hospitality sector. The transaction demonstrates sustained investor interest in Prague’s commercial real estate market, particularly for well-positioned assets.

CPI Europe has indicated that it will continue to evaluate its portfolio and pursue further sales of non-core assets as part of its ongoing optimization strategy. The company remains focused on enhancing the efficiency of its portfolio while maintaining a strong presence in key European markets. These recent transactions reflect a disciplined approach to asset management, ensuring that capital is directed towards properties with the highest potential for long-term value creation.