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NEPI Rockcastle

CATEGORY
Investor of the Year, CEE
NEPI Rockcastle is the most active investor in retail real estate in CEE, with its off- market acquisitions in Poland in the second half of 2024 accounting for roughly 40% of all retail transactions in the region that year. In addition, it has a €795m ongoing development programme which means a total investment in CEE retail real estate of more than €1.5bn. Due to the strength of its balance sheet with an LTV of 32.1% and enviable ability to raise both equity and capital – as demonstrated by its €500m green bond raise and €300m equity raise in the second half of 2024 – the company has been actively expanding its presence in the region. Furthermore, it is locally run and managed providing a unique insight into how shopping centres are integrated into CEE economies, it has an expansive network of international brands and concepts to bring to the region, and the skills to deliver robust investor returns while shaping the future of retail for local communities.
Name of company
NEPI Rockcastle
Name of President or Managing Director for the region
Marek Noetzel
Profile of President or Managing Director for the region
Marek Noetzel is Chief Operating Officer of NEPI Rockcastle, based in its offices in Poland. Under his operational leadership, the portfolio has undergone a programme of strategic developments, asset modernisation and retail mix optimisation, helping the company to deliver strong growth in NOI.
Description of company and team
NEPI Rockcastle (NR) is Europe’s third-largest listed retail real estate company by portfolio value & the largest owner, operator & developer of shopping centres in CEE. Its €8bn portfolio is located across 8 CEE countries encompassing 60 properties. It is a market leader in Romania & Poland (NR’s two largest markets) and has two key strategic advantages: its unique portfolio of retail space & its team of over 690 employees with unparalleled expert local knowledge in retail property.
Office projects included in the portfolio
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The value of office properties held by investor
Retail projects included in the portfolio
€795m development programme ongoing:
- Promenada Mall Bucharest (RO) 55,400sqm extension
- Promenada Plovdiv, Bulgaria 60,500sqm greenfield development
- Redevelopment of Bonarka City Center, Poland
- Refurbishment works on Arena Mall in Budapest
- Refurbishment in Arena Centar, Zagreb,
The value of retail properties held by investor
Warehouse projects included in the portfolio
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The value of warehouse properties held by investor
PRS projects included in the portfolio
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The value of PRS properties held by investor
The largest purchase transactions within the timeframe specified by the organizer
NEPI Rockcastle acquired two properties in the second half of 2024, the 88,400sqm Silesia City Center mall in Katowice, in the Silesia province of southern Poland, the largest single shopping centre transaction in CEE. Prior to this acquisition, NEPI Rockcastle bought the 100,000 sqm Magnolia Shopping Center, Wroclaw. The total investment for both properties was approx. €760m. These accretive acquisitions increased NR’s concentration of its portfolio in countries with an investment grade rating
Future plans
Our sustainable growth strategy is to:
• Grow the portfolio through development
• Make accretive acquisitions of prime assets & strategic disposals.
• Ensure that its high-quality portfolio of assets is actively managed & improved
• Deliver income from new business, our renewable energy subsidiar
Company website
www.nepirockcastle.com