NEPI Rockcastle finalizes €405 million acquisition of Silesia City Center in Katowice

NEPI Rockcastle, Europe’s third-largest listed retail real estate company, has completed the €405 million acquisition of the Silesia City Center mall in Katowice, located in Poland’s Silesia province. This marks one of the most significant shopping center transactions in Central and Eastern Europe (CEE) in recent years. The sellers in this landmark deal are Allianz, Kamsa Luxco, and Cura.

Spanning 88,400 m² of gross lettable area (GLA), Silesia City Center stands as the dominant retail destination in Katowice, an economically robust city where per capita spending surpasses the national average by 35%.

The acquisition was largely funded by NEPI Rockcastle’s €300 million equity raise in October, further underscoring the company’s robust financial strategy. This deal follows the €373 million purchase of the Magnolia Park shopping center in Wroclaw earlier this year, which was the largest single-asset retail transaction in the CEE since 2022.

The addition of Silesia City Center to NEPI Rockcastle’s portfolio—the largest in the CEE—is expected to enhance the mall’s operational performance. The company plans to leverage its asset management expertise to unlock long-term value growth opportunities.

Rüdiger Dany, CEO of NEPI Rockcastle, commented: “We deeply appreciate the trust of our investors during the recent equity raise, which enables us to pursue acquisitions like Silesia City Center. This premier shopping destination holds a commanding position in Katowice, one of Poland’s largest and most affluent cities. We are eager to apply our asset management capabilities to drive further value in this strategic investment.”

Silesia City Center enjoys an unparalleled market position in the Katowice region, with a prime location offering easy accessibility and visibility. Its immediate catchment area includes over 280,000 people within a 15-minute drive, while the broader regional catchment extends to nearly 2.2 million people within a 45-minute drive. The mall is also well-connected by car and public transport.

Currently boasting a 98.4% occupancy rate, the shopping center hosts prominent anchor tenants such as Cinema City, Half Price, H&M, Kaufland, Media Markt, Primark, Reserved, TK Maxx, and Zara.

Katowice itself is a dynamic hub, balancing a legacy of heavy industry with a growing focus on modern business services, research, and development. This industrialized and urbanized region remains one of Europe’s most significant economic areas, further solidifying the strategic importance of this acquisition.