CPI Property Group (CPIPG) announced that its subsidiary, CPI Europe AG, has secured new financing worth 100 million euros for Sun Plaza, one of Bucharest’s leading shopping centers and a flagship retail asset within the Group’s portfolio.
Opened in 2010, Sun Plaza is a retail destination in southern Bucharest, bringing together more than 170 retail, food & beverage, and entertainment concepts across approximately 81,000 square meters of gross leasable area.
“Sun Plaza continues to deliver strong operational performance and remains one of the highest-quality retail assets in our portfolio,” said Marketa Vecerova, Group Head of Real Estate Financing at CPI Property Group. “This transaction demonstrates lenders’ continued confidence in premium retail assets across the CEE region. We appreciate the professional and constructive cooperation of OTP Bank and ING throughout the process and are especially pleased to welcome ING as a new banking partner of the Group.”
“We are pleased to support CPI Property Group in this financing for Sun Plaza,” said Dénes Kovács, Head of Unit, Real Estate Finance Department at OTP Bank. “The asset benefits from a strong market position and long-term attractiveness for both tenants and customers. This financing reflects our confidence in the Romanian retail market and our commitment to supporting high-quality properties and established clients across the CEE region.”
“We are delighted to expand our relationship with CPI Property Group through this transaction,” said Mike Shields, EMEA Head of Real Estate at ING. “Sun Plaza is a well-established retail destination with solid fundamentals, and we value the constructive cooperation among all parties involved.”
Dentons acted as legal advisor to the lenders in the transaction. “This was a well-structured cross-border club-deal financing involving two international banking institutions and one of the region’s leading retail assets,” said Simona Marin, Head of Banking and Finance at Dentons. “We are pleased to have advised on the successful completion of the transaction.”