Clifford Chance's Prague office has advised CBRE, a Fortune 500 real estate company with offices in more than 64 countries worldwide, on the sale of its high-quality retail portfolio in Central and Eastern Europe to CPI PROPERTY GROUP (CPI). The transaction is valued at over EUR 600 million and will see properties including 11 shopping centres change hands across the Czech Republic, Poland, Hungary, and Romania.

This transaction between CPI and CBRE is subject to the approval of the antitrust authorities in the countries concerned, with the deal expected to close during the first quarter of 2017. Once concluded, it will be one of the biggest retail real-estate transactions ever to have been completed in the region.

The Prague-based team, coordinated Clifford Chance offices in Poland and Romania and partner law firm in Hungary as well. The team was led by experienced real-estate partner Emil Holub and supported by Aneta Sosnovcová, an associate with multiple international real-estate transactions under her belt.