NEPI Rockcastle, Europe’s third-largest listed retail real estate company by portfolio value, has acquired MegaPark Barakaldo In Bilbao — one of the northern Spain’s leading shopping and leisure destinations — from Le Retail Hiper Ondara S.L.U., part of HLRE Socimi, for a cash consideration of 252 million euros net, payable on completion.

The deal marks NEPI Rockcastle’s entry into Spain and its first investment outside Central and Eastern Europe (CEE), where it remains the region’s largest owner, operator and developer of shopping centres.

Spanning c. 81,000 m² of GLA across three independently operated retail, outlet, and leisure & dining components, MegaPark Barakaldo serves a catchment of approximately 1.1 million people in the Bilbao metropolitan area.

Marek Noetzel, Chief Executive Officer, NEPI Rockcastle, said: “MegaPark Barakaldo gives us a strong foothold in one of Spain’s most dynamic regions — already a dominant destination for its catchment, with visitor numbers and sales both gaining momentum. It’s our first step beyond Central and Eastern Europe, though we’ve built real experience entering new markets: our team owns and manages retail assets across eight European countries, and the fundamentals behind that success — understanding tenants, understanding shoppers, and applying that discipline consistently — travel with us. We’re proud to bring our track record of building and growing premier retail destinations to Bilbao, and to keep improving access to excellent retail for the Basque community”.

Anca Nacu, Chief Investment Officer, NEPI Rockcastle, added: “MegaPark Barakaldo combines the scale, retail mix and catchment quality to support long-term value creation, and this transaction gives us multiple avenues to grow it further. We look forward to applying our asset management and development expertise here, and are confident this is a disciplined first step that will deliver strong, sustainable returns for our shareholders.”