Dentons has advised NEPI Rockcastle, a commercial property investor and developer listed on the Johannesburg Stock Exchange Limited (JSE) and Euronext Amsterdam, on the acquisition of Aura Centrum shopping center in Olsztyn, Poland. The transaction value was €64.9 million.

Opened in 2005, Aura Centrum is a prominent shopping center in the heart of Olsztyn, north-eastern Poland. It offers a gross leasable area of over 25,000 square meters and it is 94.2% let to tenants such as Carrefour, H&M, Helios cinema, LPP brands (Reserved, Cropp, House, Mohito, Sinsay), Martes Sport, New Yorker, RTV Euro AGD. The shopping center has an annual footfall of 5.5 million.

NEPI Rockcastle also owns Galeria Warmińska, a dominant shopping center in Olsztyn, the only major city in the Warmińsko-Mazurskie province with a population of over 1.4 million. The consolidation of both retail and entertainment properties will allow the investor to better tailor and diversify the offer to customers in the regional catchment area.

Paweł Dębowski, Chairman of Dentons’ Europe Real Estate group, supervised the project. Partner Monika Sitowicz led the transactional team with the support of associate Paulina Czostek.

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