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REAL ESTATE: NEPI Rockcastle (NEPSJ: BBB/BBB+): Acquisition

REAL ESTATE
  • Acquiring Magnolia Park in Poland
  • Union bought Magnolia Park in 2017 for EUR380m from Blackstone
  • NEPI's overall portfolio was worth >EUR 7bn in 1H24 as a guide.
  • No price is mentioned on the press release
  • As at 1H24, Nepi had LTV 32.2% and EUR 1.3bn liquidity available to fund the upcoming 2024 bond maturity.
  • NEPSJ 2% 2030 bonds hit their wide in Nov ’22 but this coincided with an upgrade to BBB+ by Fitch.

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  • Acquiring Magnolia Park in Poland
  • Union bought Magnolia Park in 2017 for EUR380m from Blackstone
  • NEPI's overall portfolio was worth >EUR 7bn in 1H24 as a guide.
  • No price is mentioned on the press release
  • As at 1H24, Nepi had LTV 32.2% and EUR 1.3bn liquidity available to fund the upcoming 2024 bond maturity.
  • NEPSJ 2% 2030 bonds hit their wide in Nov ’22 but this coincided with an upgrade to BBB+ by Fitch.

This is what it looks like