CPI rental income up to €294m 2019

by   CIJ iDesk I
2020-04-02   08:58
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CPI Property Group released its finalized results for 2019 which confirmed that the value of its portfolio increased by €1.6bn to €9.1bn in 2019 thanks to a series of acquisitions of office buildings in Warsaw. The figure was also bolstered the rising value of its existing assets. The value of its CPI's overall assets rose €2.4bn to €10.7bn as a result of additional activities on the capital markets in 2019. Net rental income rose to €294m (up 8.3 percent compared to 2018) while its overall occupancy rate at the end of 2019 was 94.3 percent. The company also achieved an unemcumbered asset ratio of 70 percent, up 5 percent from 2018. From a financing standpoint, CPI secured a 3-year revolving facility worth €510m while issuing bonds worth €1.2bn (primarily denominated in euro). It reports total liquidity as of the end of 2019 of €1.3bn