NEPI Rockcastle, through its subsidiaries, has acquired Aura shopping centre in Olsztyn, Poland for €64.9 million and Ozas shopping centre in Vilnius, Lithuania for €124.6 million.
NEPI Rockcastle, through its subsidiary Rockcastle Global Real Estate Holdings B.V, acquired 100% of the shares in Milvus sp. z o.o., which owns Aura shopping centre in Olsztyn, Poland, from Rockspring NPS European Alfa B.V. The aggregate purchase price for Aura Centrum was €64.9 million.
Aura Centrum is a prominent shopping and entertainment destination in the heart of Olsztyn city centre with a gross lettable area of over 25,000 sqm and annual footfall of 5.5 million people. Opened in 2005, the centre was extended in 2009 and was further modernised in 2013 and 2016 to keep it at the forefront of modern shopping. Aura Centrum is 94.2% let, including key anchors such as Carrefour, H&M, Helios cinema, LPP brands (Reserved, Cropp, House, Mohito, Sinsay, Home & You), Martes Sport, New Yorker, RTV Euro AGD and Smyk.
The centre has a current net operating income of €5.3 million per annum, excluding potential income from vacancies.
The acquisition of Aura Centrum creates regional synergies for NEPI Rockcastle, which also owns Galeria Warminska, the dominant shopping centre in Olsztyn. Consolidation of both properties in the company's portfolio allows for a more bespoke positioning of the two centres and a tailoring of the offering to their respective customers in the regional catchment area, thereby creating a more diversified shopping and leisure selection.
NEPI Rockcastle, through its subsidiary UAB "Ozas property", also acquired 100% of the shares in Uzdaroji akcine bendrove "Ozantis", which owns Ozas Shopping and Entertainment Centre in Vilnius, Lithuania, from ARENA Zweite Verwaltungs GmbH. The aggregate purchase price for Ozas was €124.6 million. The acquisition of Ozas marks the company's entry point into the Baltic region.
Ozas is located in Vilnius, the capital city of Lithuania, and has a GLA of over 60,000 sqm. The centre has a strong fashion and entertainment-oriented tenant mix and attracts an affluent customer base with above-average disposable income. Ozas opened in 2009 and benefits from a simple and effective layout. It has a wide retail offering, including numerous international tenants such as Adidas, Bershka, CCC, Deichmann, Gant, H&M, Karen Millen, Jack&Jones, Lindex, LPP brands (Reserved, Cropp, House, Mohito, Sinsay), Maxima, Multikino, New Yorker, Peek & Cloppenburg, Pierre Cardin, Salamander, Swarovski, Timberland, Tommy Hilfiger, Top Shop, and Zara.
The centre has a current net operating income of €8.8 million per annum, excluding potential income from vacancies.
The acquisitions of Aura Centrum and Ozas have been funded by divestments from various listed security positions (consistent with management's strategy of decreasing this exposure), supplemented by existing liquidity resources.