NEPI Rockcastle snaps up Polish shopping center

NEPI Rockcastle, the premier owner and operator of shopping centers in Central and Eastern Europe, has agreed to acquire a 100 percent interest in Copernicus Shopping Centre in Torun, Poland. The transaction value, including adjacent land suitable for extension, is €127 million ($132 million).

Copernicus has a gross leasable area of 48,000 square meters (516,668 square feet). NEPI Rockcastle said the property has outstanding operational performance and is well positioned for future growth, both organically and through further value enhancement and extension potential.

NEPI Rockcastle said this acquisition is part of its investment strategy to increase portfolio concentration in investment grade-rated countries and focus on core dominant properties.

Completion is dependent on approval by the Polish Competition Authority.