The story
History
The company's history dates back to the foundation of Czech Property Investments a.s. (CPI a.s.) in 1991. Throughout the 1990s the company expanded its business abroad through acquisitions in Central Eastern Europe, across multiple real estate segments, including the acquisition of a residential portfolio in the Czech Republic in 2003.
In 2013, CPI a.s. acquired ABLON Group Limited, which owned a significant property portfolio in the CEE region. In 2014, CPI a.s. combined with Orco Property Group, the majority owner of Orco Germany, which owned a portfolio of office properties in Berlin. Following the company's name change to GSG Group, the company was renamed again to CPI Property Group.
Key historical milestones
Founded in 1991 as CPI a.s.
1999 - Start of residential portfolio acquisitions
2002 - Issuance of bonds in the Czech Republic. CPI a.s. moves to the forefront of the most significant Czech real estate investors
2003 - Residential portfolio expansion through purchase of residential assets which today comprise CPI BYTY's portfolio
2013 - International expansion with the acquisition of ABLON Group, which owned
a significant property portfolio in the CEE region
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2014 - Integration of CPI a.s. and GSG and establishment of CPIPG. This step created an extraordinarily strong Luxembourg-based European property group with a diversified portfolio in the Czech Republic, Berlin and the CEE region
2016 - Local bond leader with the active issuance in local bond markets to capture strong credit appetite, further enhancing our funding profile
2017 - Acquisition of retail portfolio from CBRE Global Investors
2018-2019 - Capital structure transformation - Hybrid bonds, senior unsecured bonds in EUR, CHF, JPY, HKD and USD; inaugural green bond
2019-2020 - Office expansion in Warsaw and CEE creating a leading position in Warsaw office market; acquisition of a 29.6% stake acquired in Globalworth.
2020 - Green bond champion with four green bonds issued in three currencies
2021-2022 - CPIPG revises its environmental strategy and increased ambition for GHG intensity reduction target of 30% (2021) and to 32.4% (2022), which is validated by SBTi.
2022 - A €20 billion+ European market leader, CPIPG’s portfolio is transformed through the acquisitions of controlling stakes of IMMOFINANZ and S IMMO. That same year, CPIPG issues inaugural Sustainability-Linked Bond.
2022-2024 - Portfolio optimisation and leverage reduction with the disposal of mainly lower-yielding assets with €2 billion target achieved.
2024 – Issued €500 million of bonds in May after a two-year absence from the market; transaction received €3 billion of demand and issued €700 million of bonds in with an orderbook of €4.6 billion in September.
Minority equity investment of €250 million by Sona Asset Management for a 49% stake in a subsidiary consisting of 11 office properties in Warsaw and two retail assets in Elbląg and Lublin, Poland.
From Wikipedia’s article on CPI Property Group, shared under CC BY-SA 4.0.5