Nepi Rockcastle in talks to buy another Polish shopping centre
The group, which owns, develops and manages shopping centres in various countries, is considering acquiring Magnolia Park in Wroclaw
16 September 2024 - 11:00
by Jacqueline Mackenzie
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Nepi Rockcastle bought Forum Gdansk in 2022. Picture: SUPPLIED
Nepi Rockcastle, the owner of premier shopping centres in central and Eastern Europe, is in negotiations to acquire another shopping centre in Poland.
The group, which owns, develops and manages shopping centres in various countries, including Romania, Poland, Slovakia, Bulgaria, Hungary, Croatia, the Czech Republic, Serbia and Lithuania, said on Monday it was in talks to acquire Magnolia Park, a shopping centre in Wroclaw.
Magnolia is a 100,000m2 gross lettable area shopping centre, situated in Poland’s third-largest city by population with more than 670,000 inhabitants and is strategically located in the city, with excellent visibility and easy access.
The property has experienced outstanding operational performance and is well positioned for future growth, both organically and through further value enhancement, it said.
The potential acquisition remains subject to the execution of formal written agreements, which are expected to occur in the coming weeks.
The acquisition will not require shareholder approval. Nepi already holds several assets in Poland, including the Atrium Copernicus Shopping Centre in Toruń, which it acquired in November 2022, and Forum Gdańsk, which it bought in December 2022.
The JSE-listed company acts as a rand hedge for SA investors seeking exposure to European commercial real estate.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Nepi Rockcastle in talks to buy another Polish shopping centre
The group, which owns, develops and manages shopping centres in various countries, is considering acquiring Magnolia Park in Wroclaw
Nepi Rockcastle, the owner of premier shopping centres in central and Eastern Europe, is in negotiations to acquire another shopping centre in Poland.
The group, which owns, develops and manages shopping centres in various countries, including Romania, Poland, Slovakia, Bulgaria, Hungary, Croatia, the Czech Republic, Serbia and Lithuania, said on Monday it was in talks to acquire Magnolia Park, a shopping centre in Wroclaw.
Magnolia is a 100,000m2 gross lettable area shopping centre, situated in Poland’s third-largest city by population with more than 670,000 inhabitants and is strategically located in the city, with excellent visibility and easy access.
The property has experienced outstanding operational performance and is well positioned for future growth, both organically and through further value enhancement, it said.
The potential acquisition remains subject to the execution of formal written agreements, which are expected to occur in the coming weeks.
The acquisition will not require shareholder approval. Nepi already holds several assets in Poland, including the Atrium Copernicus Shopping Centre in Toruń, which it acquired in November 2022, and Forum Gdańsk, which it bought in December 2022.
The JSE-listed company acts as a rand hedge for SA investors seeking exposure to European commercial real estate.
mackenziej@arena.africa
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