Neinver and Nuveen Real Estate acquire Silesia Outlet in Poland – EuropaProperty

Neptune, a joint venture between Neinver and Nuveen Real Estate, has acquired Silesia Outlet in Gliwice, Poland, from 6B47 Real Estate Investors for €31.5 million.

The new acquisition becomes Neptune’s sixth asset in Poland and the 15th in Europe, including one project under development.

Silesia Outlet opened on March 27, this year featuring 12,000 sqm and 60 stores of well-known local and international brands including Bugatti, Bytom, Guess, Diverse, Home & Cook, New Balance, Only, Pepe Jeans, Pierre Cardin, Puma, Triumph and Reebok, among others. Neinver has been in charge of management of the outlet center since its opening. A second phase is planned to expand the offer to 20,000 sqm of GLA and 120 shops. BOIG was responsible for the tenant mix concept, leasing until the opening and project management.

The center is located in the city of Gliwice in the Silesia region, in the southern part of the country, featuring a large catchment area of over 6.5 million residents. It enjoys an excellent location next to the Auchan Gliwice Shopping Center and the Leroy Merlin DIY store and in the immediate vicinity of the A4 motorway, which connects Cracow, the Silesian Agglomeration and Wroclaw – the largest economic centers of southern Poland.

“The acquisition of Silesia Outlet marks a new milestone in Neptune’s growth strategy, aimed at building a leading outlet platform in Europe. The center has high potential including a strong brand mix and an excellent location next to key transport links. Neinver’s experience in the outlet industry and its deep knowledge of the Polish market, in which the company is the leader through the Factory brand, will be key to guaranteeing a steady increase in the center’s value and performance in the coming years,” said Carlos González, Neinver’s Managing Director.

“We believe in the potential of the Polish retail market and are happy to bring Silesia Outlet into the Neptune portfolio. In its infancy, we look forward to receiving new brands and new shoppers into the asset to build on the successful launch”, added Charlotte Ashworth, Fund Manager, Neptune Nuveen Real Estate.

Miroslaw Januszko, Managing Director of 6B47 Poland commented: “Silesia Outlet is the first commercial project developed in Poland by 6B47. The outlet center has gained an important role in the outlet map of the country in such a short time since its opening. I believe that its new owner will successfully lead this project towards further growth in both visitors and sales.”