NEPI Rockcastle, through its wholly owned subsidiary NE Property, has signed a binding agreement to acquire all the issued shares of Helios SCC, which owns the Silesia City Center shopping center in Katowice, Poland, from Allianz Finance VII Luxembourg, Kamsa Luxco 2, and Cura Beteiligungsgesellschaft International.
Silesia City Center offers 88,400 square meters of gross lettable area and has an occupancy rate of 98.4%, including anchor tenants such as Cinema City, Half Price, H&M, Kaufland, Media Markt, Primark, Reserved, TK Maxx and Zara.
NEPI Rockcastle also signed a concurrent agreement to acquire all issued shares of Elco Energy and Elco ICT — which provide communication infrastructure and energy services for the tenants in Silesia City Center — from ECE Projektmanagement Polska.
NEPI Rockcastle reports that the purchase price for Helios SCC was EUR 405 million, which included the full
settlement of Helios’s outstanding debt. The purchase price for the Elco Companies was EUR 1.5 million.
The acquisition of Silesia City Center follows NEPI Rockcastle’s September 2024 purchase of the Magnolia Park shopping center in Wroclaw.
According to a NEPI Rockcastle press release, “the acquisition further advances NEPI Rockcastle’s investment strategy to strengthen its portfolio by focusing on countries with an investment-grade rating and prioritizing
core, income-producing dominant properties.”
“We are grateful for the confidence that NEPI Rockcastle’s investors have placed in our company during the recent equity raise as we continue to deliver on our strategy with the acquisition of Silesia City Center,” said Rudiger Dany, NEPI Rockcastle CEO. “This high-quality shopping center has a commanding market position in Katowice, one of Poland’s largest and wealthiest cities, and we look forward bringing our asset management expertise to bear in the execution of long-term value growth initiatives in this latest investment.”
The Linklaters law firm advised NEPI Rockcastle on the deal.
Image source: adal.net.pl