CPI Property Group
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| Company type | S.A. |
|---|---|
| FWB: O5G | |
| ISIN | LU0251710041  |
| Industry | Real estate |
| Founded | 1991 |
| Headquarters | , |
Area served |
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| Total assets |
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| Owner | Radovan Vítek (87.15%) |
Number of employees | 2,138 (2025) |
| Subsidiaries |
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| Website | cpipg |
| Footnotes / references [1] | |
CPI Property Group (“CPIPG”) is a real estate landlord of commercial property focused on the Czech Republic, Berlin, Warsaw and the Central & Eastern European (CEE) region. It was founded in the Czech Republic in 1991.[2]
The company's headquarters are in Luxembourg, and its shares are listed on the Frankfurt Stock Exchange.[3]
Radovan Vítek is the founder and majority shareholder of the company, holding approximately 89.29% of CPIPG's voting rights directly and through vehicles controlled by him.[4] Clerius Properties (affiliate of Apollo Funds) owing 5.58%.[5]
CPIPG's owned real estate portfolio is valued at €18.6 billion (as at 30 June 2024),[6] comprising more than 600 commercial properties, over 8,000 international and local tenants, and exposure to multiple geographies and property segments. CPIPG’s portfolio is split as follows: office assets (46% of the total portfolio by value), primarily in central European capital cities such as Berlin (GSG Berlin) Prague, Warsaw, Bucharest and Budapest; retail assets (26%), primarily in the Czech Republic;[2] residential assets (7%), mainly in the Czech Republic; hotels and resorts (5%); and complementary assets (16%), primarily comprising land bank, development properties and industrial and logistics properties. CPIPG's properties generated over €796 million of net rental income the full year ended 31 December 2023, up 25.9% up from the previous year, net business income rose to €874 million.[7] As at the end of H1 2024, properties had high occupancy rate of 91.3%.[8]
In November 2023, CPI Property Group appointed David Greenbaum, CFO of the Group since 2018, to CEO and managing director and was co-opted to CPIPG’s board of directors.[9][10]
CPIPG's board of directors consists of three independent directors (Edward Hughes, Omar Sattar, and Jonathan Lewis), two non-executive members (Philippe Magistretti, Tim Scoble as Apollo representative) and three members of management (David Greenbaum, Tomas Salajka, and Oliver Schlink).[11]
CPIPG has issued more than €8.7 billion (equivalent) of bonds in eight different currencies on the international capital markets.[12]