NEPI Rockcastle has agreed to sell the Ozas Shopping and Entertainment Centre in Vilnius, Lithuania, its only Baltic region asset, to UTIISIB UAB “Prosperus Retail Property Fund” for a gross transaction value of €200 million, with estimated net proceeds of €179 million. The net proceeds represent a 13% premium to the property’s IFRS net asset value as of 30 June 2026.
The disposal marks the Group’s exit from the Baltic region and releases capital for redeployment into high-growth markets in CEE where NEPI Rockcastle holds a leading position, as well as expansion in the newly entered Spanish market.
The transaction is subject to customary closing conditions and regulatory approvals, and completion is expected in the fourth quarter of 2026.
Marek Noetzel, CEO, NEPI Rockcastle, said: “Ozas has been a highly successful investment for NEPI Rockcastle from start to finish. We entered Lithuania in 2018 with a clear vision for the asset, and our asset management and leasing teams executed that strategy exceptionally. While Ozas continues to perform strongly, we took the deliberate and disciplined decision to exit the Baltic region as part of our ongoing portfolio optimisation. As the leading owner, operator and developer of shopping centres in Central and Eastern Europe, we must continuously allocate capital where we see the strongest opportunities to create long-term value at scale. This transaction reflects a bold but carefully considered move to sharpen our geographic focus and redeploy capital into higher-growth opportunities, including Spain, where we recently made our first investment outside Central and Eastern Europe.”
During eight years of ownership, NEPI Rockcastle has repositioned the shopping centre from the asset it acquired into one of the strongest-performing shopping and entertainment destinations in the Lithuanian capital Vilnius. The gross lettable area (GLA) of the property was expanded from 62,400 sqm to approximately 70,600 sqm across around 200 retail units, and the Group invested in the asset’s tenant mix, leisure and entertainment offer and customer proposition, adding fashion, lifestyle, food and service brands alongside cinema, family entertainment and fitness operators.
Anca Nacu, CIO, NEPI Rockcastle, said: “The decision to exit the Baltics is a strategic one. Our competitive advantage lies in owning dominant assets at scale in markets where we have depth, and a single asset in Vilnius no longer fits that model. Recycling €179 million of net proceeds into our core markets allows us to put that capital behind opportunities with a higher growth contribution.”
