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NEPI Rockcastle has agreed to sell the Ozas Shopping and Entertainment Centre. The buyer is UTIISIB UAB 'Prosperus Retail Property Fund'.
The centre is located in Vilnius, Lithuania. The gross transaction value is €200 million.
The deal generates estimated net proceeds of €179 million. This represents a 13 percent premium to the property's IFRS net asset value as of June 30, 2026.
The transaction is subject to customary closing conditions and regulatory approvals. Completion is expected in the fourth quarter of 2026.
Exit from the Baltic Region
The disposal marks NEPI Rockcastle's exit from the Baltic region. Ozas was the company's only asset there. NEPI Rockcastle says the released capital will be redeployed.
This will go into markets across Central and Eastern Europe, as well as Spain. Spain is where the company recently made its first investment outside CEE.
What the CEO and CIO Said
Marek Noetzel is CEO of NEPI Rockcastle. He said Ozas has been a highly successful investment from start to finish. He noted the company entered Lithuania in 2018 with a clear vision for the asset.
He added that the asset management and leasing teams executed that strategy well.
He called this transaction a bold but carefully considered move to sharpen the company's geographic focus and redeploy capital into higher-growth opportunities, including Spain.
Anca Nacu is CIO of NEPI Rockcastle. She said the decision to exit the Baltics is strategic. She explained the company's competitive advantage lies in owning dominant assets at scale in markets with depth.
She said a single asset in Vilnius no longer fit that model. She added that recycling the €179 million of net proceeds into core markets allows the company to back opportunities with higher growth potential.
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Growth During NEPI Rockcastle's Ownership
During eight years of ownership, NEPI Rockcastle expanded the centre significantly.
- Gross lettable area grew from 62,400 sqm to approximately 70,600 sqm
- The centre now has around 200 retail units
- New fashion, lifestyle, food, and service brands were added
- Cinema, family entertainment, and fitness operators joined the tenant mix
Also Read: NEPI Rockcastle Buys €252m Bilbao Centre in Spain Debut
About NEPI Rockcastle
NEPI Rockcastle's portfolio stands at €8.4 billion. It includes 60 properties across eight countries.
The company operates shopping centres in Romania, Poland, Bulgaria, Hungary, Slovakia, Croatia, the Czech Republic, and Spain.
What the Deal Means for the Buyer
The transaction marks Prosperus Retail Property Fund's entry into the Baltic retail property market.
It represents the fund's first major move as part of a strategy to build a diversified portfolio of retail assets across Central and Eastern Europe.
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