The vendors are Allianz, Kamsa Luxco and Cura. Silesia City Center extends over 88,400 sq m of gross lettable area (GLA) and is a dominant shopping center in Katowice, economically one of the strongest cities in Poland, with average spending per capita exceeding the national average by 35%.
The investment was primarily funded by NEPI Rockcastle’s successful €300 million equity raise completed in October. The transaction also follows NEPI Rockcastle’s €373 million acquisition of the Magnolia Park shopping center in Wroclaw in southwest Poland in September this year, which was then the largest single asset retail real estate deal in Central and Eastern Europe since at least 2022.
Silesia City Center has a strong operational performance which is anticipated to even grow after the integration of the property into NEPI Rockcastle’s shopping center portfolio, the biggest in CEE, and following the implementation of asset management initiatives by the company.
“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,” says Rüdiger 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.”
Silesia City Center benefits from a dominant market position in the Katowice region and is well located in the city, with an immediate catchment area of over 280,000 people (within 15 minutes’ drive) and a regional catchment of almost 2.2 million people (within a 45-minute drive), offering excellent visibility and access by both car and public transport.
The shopping centre has a 98.4% occupancy rate, and its anchor tenants include Cinema City, Half Price, H&M, Kaufland, Media Markt, Primark, Reserved, TK Maxx and Zara.
