Nepi Rockcastle signs agreement to sell Ozas shopping center in Vilnius for €200 million
Real estate company Nepi Rockcastle has signed an agreement to divest the Ozas shopping and leisure center located in Vilnius, Lithuania, its sole asset in the Baltic countries. The transaction, valued at €200 million in gross value, marks the end of the group's presence in this region.
A divestiture valued at €200 million, with €179 million in expected net proceeds
Nepi Rockcastle has concluded an agreement to sell the Ozas shopping and leisure center, located in Vilnius, to the fund UTIISIB UAB "Prosperus Retail Property Fund", for a gross transaction value of €200 million. Net proceeds are estimated at €179 million.
According to the company, this net proceeds represent a premium of 13% relative to the IFRS net asset value of the property as of 30 June 2026. Ozas constituted the group's entry point into the Baltic region in 2018 and remained its only asset in this area.
An asset expanded to approximately 70,600 m² over eight years of ownership
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During its eight years of ownership, Nepi Rockcastle indicates it increased the gross leasable area of the property from 62,400 m² to approximately 70,600 m², distributed across approximately 200 commercial units. The group specifies having invested in tenant mix, leisure and entertainment offerings as well as customer experience, by adding fashion, food and beverage and service retailers, alongside a cinema, family entertainment spaces and fitness operators.
The divestiture releases capital intended to be redeployed in Central and Eastern European markets, where the group states it holds a leading position, as well as in the Spanish market recently entered. The group's portfolio amounts to approximately €8.4 billion, concentrated in Central and Eastern Europe.
Completion expected in the fourth quarter of 2026, subject to conditions
The transaction remains subject to customary closing conditions and regulatory approvals. Completion is expected in the fourth quarter of 2026.
The agreement includes customary warranties and indemnities for this type of transaction, backed by a warranties and indemnities insurance policy. According to the group, the transaction is not classifiable under JSE listing rules and the information is presented for informational purposes.
A strong operational performance in the first half of 2026 demonstrated the quality and the resilience of NEPI Rockcastle's portfolio.
Risks mentioned
Impact géopolitique sur l'économie mentionné dans les actualités récentes du groupe
Opportunities identified
Croissance du NOI de 3,8% incluant l'activité énergétique
Relèvement des prévisions annuelles de bénéfice distribuable par action
Amélioration de la notation par S&P Global Ratings à BBB+ en juillet 2026
Outlook / guidance
Expected revenue: 964 millions d'euros
Expected net income: 62,8 millions d'euros
Management commentary: now expects DEPS for the year to be 3.5-4% higher than the DEPS of 62.03 cents per share in 2025
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
