Nepi Rockcastle completed the acquisition of Magnolia Park from Union Investment for €373m.

Nepi Rockcastle, a property investment and development group, completed the acquisition of Magnolia Park from Union Investment, the investment arm of the DZ Bank Group, for €373m. "Nepi Rockcastle has just acquired one of the top retail assets in Poland. Magnolia Park is a dominant shopping centre in Wrocław, the country’s third largest city and one of its richest. The acquisition will significantly strengthen the group’s portfolio, consolidating its position as the premier retail real estate owner in CEE. Nepi Rockcastle has a solid track record of adding significant value to the assets acquired, as evidenced by our most recent acquisitions, and this property has significant upside that will fuel Nepi Rockcastle’s growth in coming years," Rüdiger Dany, Nepi Rockcastle CEO.