NEPI Rockcastle has agreed to sell the Ozas Shopping and Entertainment Centre in Vilnius, Lithuania, to the UTIISIB UAB 'Prosperus Retail Property Fund' for a gross transaction value of €200 million. The deal generates estimated net proceeds of €179 million, representing a 13% premium to the property's IFRS net asset value as of 30 June 2026. The transaction is subject to customary closing conditions and regulatory approvals, with completion expected in the fourth quarter of 2026.
The disposal marks NEPI Rockcastle's exit from the Baltic region, where Ozas was its only asset. The company says the released capital will be redeployed into markets in Central and Eastern Europe as well as Spain, where NEPI Rockcastle recently made its first investment outside CEE.
"Ozas has been a highly successful investment for NEPI Rockcastle from start to finish. We entered Lithuania in 2018 with a clear vision for the asset, and our asset management and leasing teams executed that strategy exceptionally," said Marek Noetzel, CEO of NEPI Rockcastle. "This transaction reflects a bold but carefully considered move to sharpen our geographic focus and redeploy capital into higher-growth opportunities, including Spain."
During eight years of ownership, NEPI Rockcastle expanded the centre's gross lettable area from 62,400 sqm to approximately 70,600 sqm across around 200 retail units. The company invested in the tenant mix, leisure and entertainment offer, adding fashion, lifestyle, food and service brands alongside cinema, family entertainment and fitness operators.
"The decision to exit the Baltics is a strategic one. Our competitive advantage lies in owning dominant assets at scale in markets where we have depth, and a single asset in Vilnius no longer fits that model," said Anca Nacu, CIO of NEPI Rockcastle. "Recycling €179 million of net proceeds into our core markets allows us to put that capital behind opportunities with a higher growth contribution."
NEPI Rockcastle's portfolio stands at €8.4 billion and includes 60 properties across eight countries, with shopping centres in Romania, Poland, Bulgaria, Hungary, Slovakia, Croatia, the Czech Republic and Spain.
