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CPI Property Group buys Felicia Shopping Center in Iasi

CPI Property Group, owned by Czech billionaire Radovan Vitek, made its first acquisition on the Romanian real estate market, after buying Felicia Shopping Center in Iasi, a press release informs.

CBRE has represented CPI Property Group in the acquisition of the commercial gallery located in eastern Romania.The transaction value was not disclosed.

The transaction forms part of a larger high-quality retail portfolio of predominantly 11 shopping centers with a total leasable area of approximately 265,000 sqm located in the Czech Republic, Hungary, Poland and Romania.

Felicia Iasi has a total leasable area of 11,313 sqm and is anchored by Marks&Spencer, Takko, Pepco, Deichman, DM and Intersport and it serves a catchment area of more than 450,000 inhabitants. Carrefour hypermarket is also connected with the gallery and it operates here since 2007, when the commercial center was opened.

CBRE property management team operates Felicia Shopping Center and its commercial gallery since aprilie 2016.

“CBRE is delighted to act on behalf of another new market entrant to Romania. Felicia is a well-established scheme whose proven trading history and strong fundamentals make for a solid regional retail investment from CPI Property Group”, says Robert Paulson, Head of Investment Properties, CBRE Romania.

Locally, CBRE manages 8 properties and almost 340,000 sqm in Bucharest – Sun Plaza and Veranda Shopping Center – and in the whole country: Vivo Cluj, Vivo Constanta, Vivo Baia Mare, Vivo Pitesti and Felicia Shopping Center in Iasi.

About Anca Bernovici