The seller is the s-Immo majority owner CPI Property Group. The four properties have a total value of 167.7 million euros and generate annual income of around 8.4 million euros, said s Immo in a broadcast.
The buildings include the Mayhouse and Luxembourg Plaza office towers in Prague, the ZET.office in Brno and the Courtyard by Marriott Prague City hotel. The purchase is a related party transaction as the CPI Property Group holds 88.4 percent of the shares in s Immo.
At the beginning of April, s Immo announced that it would not pay a dividend for 2022. Before the majority takeover by the CPI Property Group around the Czech billionaire Radovan Vitek, 65 cents per share had been paid for 2021 and 50 cents for 2020.
Source: Nachrichten
