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C&W reappointed to manage two malls in CEE

Deals

Cushman & Wakefield has been reappointed by CPI Property Group as property manager of two major shopping centers and one multifunctional complex in Central and Eastern Europe recently acquired from CBRE Global Investors, according to a statement sent to the Budapest Business Journal. All three firms are important players on the Hungarian real estate market.

Cushman & Wakefield currently manages 16 retail and multifunctional assets totaling 344,300 square meters owned by CPI Property Group in Central and Eastern Europe. CPI established the cooperation with Cushman & Wakefield in January 2012. The properties under the latterʼs management include real estate in the Czech Republic, Poland and Hungary.

CPI Property Group ranks among the most significant real estate groups focusing on long-term investments and property leases, especially in Central and Eastern Europe and Germany, according to the press release. Its diversified portfolio, valued at more than EUR 4.865 billion, comprises a wide range of properties in Germany, the Czech Republic, Slovakia, Hungary, Poland and Romania. 

“The latest additions to CPI’s portfolio under our management include Olympia in Plzeň, Zlatý Anděl in Prague and Ogrody in Poland, which we continue to manage now on behalf of the new owner as CPI’s appreciation of our commitment to providing quality service and client satisfaction across the region,” said Ondřej Fukal, Partner & Head of Asset Services in the Czech Republic and Slovakia at Cushman & Wakefield.

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