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Articles - Zagreb tower

The largest transaction in the market in the past year: CPI Property sold Zagreb Tower. Who is the new owner?

In the Zagreb real estate market, one of the largest transactions in the past year has recently been concluded, as insiders report: CPI Property Group has sold the Zagreb Tower to OTP Bank.

CA Immo has signed and closed the sale of the Zagreb Tower office building to Austrian property company S Immo AG at a 5% premium to H1 2020 book value.

"In parallel with our portfolio growth in CA Immo's core markets, we are also continuing to pursue our non-core sales strategy. With the sale of the Zagreb Tower, we are withdrawing from a small CEE market at a sound sales price. In 2018 we started to speed up the process of focusing our strategic CEE portfolio on large-space, modern office properties in the big CEE capitals where we have local management teams in country, and where we believe we can generate appropriate level of risk adjusted returns.

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