CPI PROPERTY GROUP
CPI PROPERTY GROUP secured EUR 58 million refinancing for its boutique hotels portfolio
DGAP-News: CPI PROPERTY GROUP / Key word(s): Financing 2015-07-31 / 17:33 --------------------------------------------------------------------- CPI PROPERTY GROUP secured EUR 58 million refinancing for its boutique hotels portfolio CPI PROPERTY GROUP (the "Company") has obtained a 5-year refinancing for its boutique hotels portfolio located in the Czech Republic, Slovakia, Poland, Hungary and Russia, held under the Hospitality Invest S.a.r.l. (the "HI") subholding. Following the increase of Company's stake in HI in December 2014, upon which the Company controls 94% of HI, the Company now achieved the long-term EUR 58 million refinancing with Erste bank. The existing HI portfolio is mostly operated under the brand Mamaison Hotels and Residences (www.mamaison.com) and represents a unique collection of well-established luxury boutique hotels and all-suite residences, mostly located in prime central locations of the CEE capitals (Prague, Warsaw, Budapest, Bratislava and Moscow). The hospitality segment forms an important part of the Company's portfolio, with 29 hotels including four-star Clarion congress hotels in Prague and major regions of the Czech Republic, and proves to be a stable business with a growing potential for the future. For further information please contact: Kirchhoff Consult AG Sebastian Bucher Herrengraben 1 20459 Hamburg T +49 40 60 91 86 18 F +49 40 60 91 86 60 E sebastian.bucher@kirchhoff.de --------------------------------------------------------------------- 2015-07-31 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: CPI PROPERTY GROUP 40, rue de la Vallée L-2661 Luxembourg Grand Duchy of Luxembourg Phone: +352 264 767 1 Fax: +352 264 767 67 E-mail: contact@cpipg.com Internet: www.cpipg.com ISIN: LU0251710041 WKN: A0JL4D Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 382877 2015-07-31
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