ARTICLES LABELLED WITH TAG NEPI Rockcastle

The area of Budapest’s Arena Mall could grow from its current 42,000 sqm to 60,000 sqm, following the property manager’s application for an extension last December, local daily HVG reports. If the plans are realised, Arena Mall will become the largest shopping centre in Hungary.

AFI Europe N.V. and NEPI Rockcastle announced the conclusion of the transaction for the acquisition of NEPI Rockcastle’s office portfolio in Romania, with a total GLA of 118,500 square meters. The transaction value is in excess of €300 million.

NEPI Rockcastle announced that it will inaugurate Promenada Sibiu on November 14 following an investment of €100 million. The developer will also open a shopping centre in Târgu Mureș in March following an investment of €70 million.

NEPI Rockcastle plans to develop residential projects around the shopping centres it owns in Romania. The company will develop apartment buildings in five cities: Brașov, Bucharest (around Mega Mall and Vulcan), Râmnicu Vâlcea, Satu Mare, and Timișoara.

NEPI Rockcastle has announced the acquisition of a 200,000 sqm land in Craiova and plans to construct one of the biggest retail projects in the region of Oltenia. The value of the investment is estimated at approximately €110 million and the construction will start after obtaining all the necessary approvals.

AFI Europe signed a non-binding letter of intent for the acquisition of NEPI Rockcastle’s office portfolio in Romania, with a total built area of approx. 170,000 square meters. AFI Europe will have exclusivity to conduct a due diligence in respect of the Class A office buildings with a total value of approx. €310 million.  

The EBRD is supporting capital market development in Romania with a €50 million investment in the second benchmark-sized €500 million corporate bond issued by NE Property B.V.

Dedeman has signed a contract for the purchase of The Office in Cluj-Napoca. The sellers are developers NEPI Rockcastle and Ovidiu Sandor. The purchase price has not been disclosed, but it is estimated to be around €100 million.

CBRE has taken over the management of the NEPI Rockcastle office portfolio in Bucharest, totalling 70,580 square meters. This is the first time when NEPI Rockcastle outsources the management of the properties. CBRE Romania now manages 770,000 sqm of offices and retail assets.

After an investment of €40 million, NEPI Rockcastle opened Shopping City Satu Mare, which hosts 85 stores, including the first Carrefour hypermarket in the city.