HB Reavis sells Slovak mall to NEPI

CEE property developer HB Reavis has sold a shopping centre in Slovakia to New Europe Property Investments (NEPI) for a net sum of €87.5 mln.

Aupark Zilina was built in 2010 and provides around 25,000 m2 of leasable space. It is located in Zilina, Slovakia’s fourth-largest city with a catchment area of around 400,000 people. Anchor tenants include H&M, C&A, New Yorker and Takko.

Marian Herman, head of investment management and divestments at HB Reavis, commented: ‘This transaction further underlines the long-term attractiveness of our projects to renowned international institutional investors and demonstrates an increasing appetite for Slovak commercial real estate amongst international investors.’

HB Reavis Group was advised by Cushman & Wakefield and Allen & Overy on the transaction.

NEPI is a listed commercial property investment company registered in 2007 on the Isle of Man with a current market capitalization in excess of €900 mln. The company is listed on the Johannesburg, London and Bucharest stock exchanges.