CPI acquires 19 office buildings from PPF

Radovan Vítek’s CPI group has completed a deal to acquire 19 office buildings in Prague and other Czech towns and cities from Czech billionaire Petr Kellner’s PPF Group.

Following approval by the anti-monopoly office (ÚOHS), Czech Property Investments (CPI) has completed the purchase of office and administrative buildings in Prague, Pardubice, České Budějovice, Hradec Králové, Ostrava, Plzeň and Tábor from the PPF Group for almost Kč 5.4 billion, CPI announced on Tuesday.

Most space in the buildings is occupied with most tenants being companies within the PPF Group, the largest of which is insurance company Česká pojišťovna within their headquarteris in Prague 4. One of the notable exceptions is the Tokovo building in Prague 7, which is occupied by the Supreme Audit Office (NKÚ).