Linklaters has advised NEPI Rockcastle, Europe’s third-largest listed retail real estate company by investment portfolio value and the largest owner, operator, and developer of shopping centres in Central and Eastern Europe, on the acquisition of the Magnolia Park shopping centre, for EUR 373 million. The seller was Union Investment.
The acquisition represents the biggest single-asset shopping centre transaction by value in Central and Eastern European markets in recent years.
Magnolia Park, located in Wrocław, is one of the top ten shopping centres in Poland. It enjoys a strategic location with excellent visibility and access both by car and public transport, reflected in its operational performance and a very high occupancy rate of more than 99%. The shopping centre has a BREEAM Excellent sustainability certification.
The transaction was led by Tomasz Trystuła (managing associate), supported by Marta Strykowska (senior associate) and Maksymilian Hau (associate) from the Warsaw real estate practice. Janusz Dzianachowski (national managing partner) supervised the transaction.
The due diligence team included: the real estate practice – Joanna Roman (associate) and Aleksandra Mielniczuk (associate); the antitrust and foreign investment practice – Wojciech Podlasin (managing associate), Barbara Wanat (managing associate), and Aleksandra Piela (junior associate); the TMT/IP practice – Szymon Sieniewicz (head of the TMT/IP practice) and Małgorzata Czubernat (junior associate).
German and English law aspects of the transaction were advised on by and Wolfram Kruger (Partner) and Michał Szperzyński (managing associate) respectively.
