CPI Property Group (CPIPG) is in advanced talks with funds managed by Apollo (Apollo Funds) for a possible equity investment of up to €450 mln.
The investment would involve Apollo Funds acquiring common shares in CPIPG subsidiary GSG Berlin (GSG).
A final decision is not yet made. Binding agreements and approvals from various parties, including rating agencies and the EU Commission, are still required.
GSG is a leading commercial real estate platform in Berlin. The portfolio consists of three main clusters, namely Rest-West (western districts), Kreuzberg, and econoparks (eastern districts).
Last December, GSG successfully secured a €404 mln loan refinancing in December 2023, ahead of schedule. The deal, led by a consortium including Berlin Hyp AG, is one of the largest transactions in recent months.
Based in Luxembourg and listed on the Frankfurt Stock Exchange, CPIPG owns and manages commercial real estate in the Czech Republic, Berlin, Poland, and the broader CEE region. The Group’s portfolio boasts over €20 bn in value, with a focus on prime office locations in Berlin, Prague, and Warsaw, with over 700 commercial properties across various segments.