NEINVER and Nuveen Real Estate acquire Silesia Outlet in Poland

Warsaw, 27 June 2019 – Neptune, a joint venture between NEINVER and Nuveen Real Estate, has acquired Silesia Outlet in Gliwice, Poland, from 6B47 Real Estate Investors for €31.5M. The new acquisition becomes Neptune’s sixth asset in Poland and the 15th in Europe, including one project under development.

Silesia Outlet opened on 27 March this year featuring 12,000 m² and 60 stores of well-known local and international brands including Bugatti, Bytom, Guess, Diverse, Home & Cook, New Balance, Only, Pepe Jeans, Pierre Cardin, Puma, Triumph and Reebok, among others. NEINVER has been in charge of management of the outlet centre since its opening. A second phase is planned to expand the offer to 20,000 m² of GLA and 120 shops. BOIG was responsible for the tenant mix concept, leasing until the opening and project management.

Silesia Outlet is Neptune’s sixth asset in Poland and the 15th in Europe.

The centre is located in the city of Gliwice in the Silesia region, in the southern part of the country, featuring a large catchment area of over 6.5 million residents. It enjoys an excellent location next to the Auchan Gliwice Shopping Centre and the Leroy Merlin DIY store and in the immediate vicinity of the A4 motorway, which connects Cracow, the Silesian Agglomeration and Wroclaw – the largest economic centres of southern Poland.

The acquisition of Silesia Outlet marks a new milestone in Neptune’s growth strategy, aimed at building a leading outlet platform in Europe. The centre has high potential including a strong brand mix and an excellent location next to key transport links. NEINVER’s experience in the outlet industry and its deep knowledge of the Polish market, in which the company is the leader through the FACTORY brand, will be key to guaranteeing a steady increase in the centre’s value and performance in the coming years,” says Carlos González, NEINVER’s Managing Director.

“We believe in the potential of the Polish retail market and are happy to bring Silesia Outlet into the Neptune portfolio. In its infancy, we look forward to receiving new brands and new shoppers into the asset to build on the successful launch”, says Charlotte Ashworth, Fund Manager, Neptune Nuveen Real Estate.  

Silesia Outlet is the first commercial project developed in Poland by 6B47. The outlet centre has gained an important role in the outlet map of the country in such a short time since its opening. I believe that its new owner will successfully lead this project towards further growth in both visitors and sales,” says Miroslaw Januszko, Managing Director of 6B47 Poland.

Neptune, an exclusive-shareholder joint venture, was created in 2014 by NEINVER, an industry-leading company specialised in property investment, development and management and the largest outlet operator in Spain and Poland, and Nuveen Real Estate, one of the largest real estate investment managers in the world.