ARTICLES LABELLED WITH TAG NEPI Rockcastle

NEPI Rockcastle has started construction works on a new shopping mall in Satu Mare. NEPI’s eighteenth shopping centre in Romania is expected to be inaugurated at the end of 2018.

NEPI Rockcastle has acquired the Festival Sibiu mall project from Primavera Development for €21 million. Reff&Asociatii provided legal assistance for NEPI in signing this deal.

NEPI Rockcastle published its results for 2017. The total value of direct property portfolio owned and managed by NEPI Rockcastle exceeded €5 billion (including joint-ventures). Acquisitions and developments finalised during 2017 totalled €947 million, with 339,800 sqm GLA added.

The European Bank for Reconstruction and Development (EBRD) said it has subscribed €50 million into a €500 million Eurobond first issuance by NE Property Cooperatief, a company owned by CEE-focused real estate investment trust NEPI Rockcastle.

Globalworth is, according to zf.ro, in talks with NEPI Rockcastle to acquire The Office Cluj and City Business Centre Timisoara. The investor completed a €330 million ordinary share issue at the end of last year and intends to use the money raised for investments in Poland and Romania.

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

NEPI Rockcastle’s wholly-owned subsidiary, NEPC has priced a €500 million unsecured 7 year Eurobond maturing on 23 November 2024, carrying a 1.75% fixed coupon, with an issue price of 99.051%. At this level, the book was oversubscribed. S&P and Fitch assigned the Bond a BBB rating, in line with the corporate rating.

NEPI Rockcastle has acquired Alfa Centrum shopping centre in the city of Bialystok in Poland from A-JWK Management sp. z o.o. The aggregate purchase price for Alfa Bialystok was €92.3 million, representing an acquisition yield of approximately 6.7%.

NEPI Rockcastle has invested nearly €30 million in the expansion and modernisation of Shopping City Galati and the first brands that will appear following the expansion will be inaugurated on November 16. An additional 21,000 sqm was added to the 27,000 sqm shopping centre.

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.