Considered the largest single shopping centre acquisition to be made in CEE retail in 2024. This transaction comes on the heels of the acquisition of the Magnolia Park shopping center, located in southwestern Poland (Wroclaw), which took place in September 2024 and was, at the time, the largest transaction by value completed for a single property in the CEE region since early 2022. Silesia City Center is performing strongly financially, and this value is forecasted to increase as the property in
Name of the deal
Acquisition of Silesia City Centre
Information about the transaction
NEPI Rockcastle (NR) acquired, in an off-market transaction, Silesia City Center (SCC) mall in Katowice €405 million in December 2024, in the Silesia province of southern Poland, the largest single shopping centre transaction in CEE in recent years for. Extending over 88,400sqm of GLA it is a dominant mall in Katowice, economically one of the strongest cities in Poland, with average spending per capita exceeding the national average by 35%.
SCC’s already strong operational performance improved after its integration into NR’s portfolio, following the implementation of asset management initiatives by the company. Its anchor tenants include Cinema City, Half Price, H&M, Kaufland, Media Markt, Primark, Reserved, TK Maxx and Zara (Inditex).
The investment was primarily funded by NR’s successful €300 million equity raise completed in Oct24.
The date of closing the deal
2024-12-09
Value of the transaction (in EUR)
405
Yield
Not disclosed. The value was €405 million
Seller, plus brief information about the company
A consortium of Allianz, Kamsa Luxco and Cura.
Consultancy which advised Seller
n/a
Purchaser, plus brief information about the company
NEPI Rockcastle 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.
Consultancy which advised Purchaser
n/a
Financing institution
Financed by the company’s €300 million equity raise and existing cash resources.
