The acquisition of Silesia City Center marks Nepi Rockcastle’s continued expansion in Poland’s thriving retail market, following its recent purchase of Magnolia Park in Wroclaw.
Nepi Rockcastle Silesia City Center acquisition
Nepi Rockcastle, the largest retail real estate owner in Central and Eastern Europe (CEE), has announced the acquisition of Silesia City Center, a dominant shopping mall located in Katowice, southern Poland. The deal, valued at €405 million, is one of the largest shopping centre transactions in CEE in recent years. The transaction, involving vendors Allianz (45%), Kamsa Luxco (45%), and Cura Beteiligungsgesellschaft (10%), highlights Nepi Rockcastle’s strategic focus on acquiring high-quality retail assets in key urban markets.
Key Highlights of the Acquisition
- Property Overview:
Silesia City Center spans over 88,400 sqm of gross lettable area (GLA) and holds a 98.4% occupancy rate. Its anchor tenants include renowned global brands such as Primark, Zara, TK Maxx, Kaufland, Media Markt, and H&M.
Located in the heart of Katowice, the mall benefits from its immediate catchment area of over 280,000 peoplewithin a 15-minute drive and a regional reach of 2.2 million people within 45 minutes. - Financial Performance:
The shopping centre is forecast to generate a net operating income of €30.3 million in 2024, with stabilization expected at €32 million after integration into Nepi Rockcastle’s portfolio and planned asset management initiatives. - Funding:
The acquisition was supported by Nepi Rockcastle’s successful €300 million equity raise in October, reinforcing investor confidence in the company’s growth strategy.
