A subsidiary of NEPI Rockcastle has entered into an agreement to acquire two shopping centres in Poland for an aggregate sum of €249.4 million. Shopping centres Serenada (41,170 sqm) and Krokus 27,728 sqm) are to be extended for a further €212 million thus creating a single integrated shopping centre with a GLA of over 100,000 sqm.
NEPI Rockcastle subsidiary Tuvalu has entered into an agreement with Centrum Krokus sp. z o.o. and Centrum Serenada sp. z o.o. to acquire two adjacent shopping centres in Kraków, for an aggregate purchase consideration of €249.4 million. The acquisition will be effective on fulfilment of conditions precedent and conclusion of the final purchase agreement, which is expected to occur in Q1 2018.
The opening of the Serenada shopping centre is scheduled for the end of October 2017.
The company is to spend a further €212 million on an extension (planned completion by 2020) that would connect the two shopping centres.
