We advised investment fund NEPI Rockcastle on the sale of the Ozas shopping centre in Vilnius to a real estate fund managed by the investment management company Investicijų valdymas Prosperus. The single-asset transaction value is EUR 200 million.

This will be the second-largest investment transaction involving a shopping centre in Lithuania and one of the largest of its kind in the Baltics in recent years. The transaction is expected to be completed following clearance from the Competition Council.

Investicijų valdymas Prosperus UAB, acting indirectly through the closed-ended investment company for informed investors, Prosperus Retail Property Fund UAB, will acquire 100% of the shares in Ozantis UAB and 100% of the shares in NEPI Rockcastle Lithuania UAB.

Marek Noetzel, CEO of 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 optimization. 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.”

Together with the shopping centre, the new owner will also take over its management team, which is expected to help preserve existing expertise and ensure the continued development of relationships with tenants.

Our team and services

We advised NEPI Rockcastle on all aspects of the transaction, including negotiating the transaction documents and assisting throughout the divestment process.

Our team was led by counsel Karolis Kunigėlis and included partner Kęstutis Adamonis and senior associate Simona Stančiukaitė, with contributions of partners Dr Aistė Medelienė and Monika Mališauskaitė-Vaupšienė, as well as associates Grasildė Vileikienė and Radvilė Karmanovė.