NEPI Rockcastle has acquired the 100,000 sqm Magnolia Park shopping centre in Wroclaw, Poland, from Union Investment in an off-market transaction. The sale price amounts to €373 million. Union Investment acquired Magnolia Park in 2017 for the portfolio of the open-ended real estate fund UniImmo: Europa. 

Property group NEPI Rockcastle has priced a green €500 million unsecured long 7-year Eurobond maturing in January 2032 through its subsidiary NE Property. 

NEPI Rockcastle has completed the expansion works for the Shopping City Ploiești project. 

Nepi Rockcastle is in negotiations to acquire Magnolia Park, a shopping centre located in Wroclaw, Poland from Union Investment Real Estate. The property features 100,000 sqm GLA. The potential acquisition remains subject to the execution of formal written agreements, which is expected to occur in the coming weeks.

NEPI Rockcastle has recorded a 13.5% gain in net operating income to €274 million during H1 2024 versus the same period of last year, while on a like-for-like basis it saw a 10% gain.

Rüdiger Dany, CEO of NEPI Rockcastle, talked to Property Forum about the group’s €650 million development pipeline, demand trends in Central and Eastern Europe (CEE) and its investments in photovoltaic panels across the portfolio of assets.

Property group NEPI Rockcastle has completed its first residential project in Romania. The Bucharest-based Vulcan Residence complex features 254 apartments and has been delivered with an 80% sale rate.

NEPI Rockcastle has a development and refurbishment pipeline of more than €650 million in 2024 across Central and Eastern Europe (CEE), which is the biggest retail investment program in the region.

NEPI Rockcastle, the third biggest retail real estate company in Europe, saw its net operating income soar 21% to a record €491 million in 2023 compared to the previous year over strong sales of its tenants across the region.

Romania saw 11 new retail projects completed last year, with a combined leasable area of 215,000 sqm, sending the market to a 7-year high in terms of deliveries, according to a Cushman & Wakefield Echinox report.