The transaction expands Appeninn’s Polish portfolio by nearly 53,000 square metres of gross leasable area (GLA). Indotek Group advised on the acquisition, while Indotek Polska will take over the management of the acquired properties.
Appeninn Asset Management Holding Plc. has completed the acquisition of 11 retail properties from Dekada S.A. across 11 Polish cities. The transaction covers seven retail parks and four shopping centres with a combined gross leasable area of nearly 53,000 square metres.
The value of the agreement exceeds EUR 100 million, making it one of the most significant recent transactions in Poland’s commercial real estate market. The investment substantially expands the retail segment of Appeninn’s Polish portfolio, which previously consisted primarily of office and logistics properties. Indotek Polska will provide asset management services for the acquired portfolio.
The portfolio includes seven retail parks located in Brodnica, Ciechanów, Grójec, Kraków, Myślenice, Olsztyn and Nowy Targ, as well as four shopping centres in Malbork, Sieradz, Skierniewice and Żyrardów.
All the properties are conveniently located and offer retail mixes tailored to the needs of local communities. Their strength lies in a stable tenant base comprising leading Polish and international brands, including Biedronka, Carrefour, Stokrotka, Rossmann, Hebe, H&M, Empik, JYSK, Castorama, Pepco, Action, Apart and Ochnik.
“The acquisition of the Dekada properties allows us to rapidly expand our presence in Poland’s retail market and provides an excellent complement to our existing investments in the office and logistics sectors. The properties are geographically diversified, while their tenant base consists largely of brands serving consumers’ everyday shopping needs,” said Györgyi Szűcs, Chair of the Management Board of Appeninn.
“This is an important step in the implementation of our international investment strategy, which we have been pursuing since 2022, and it strengthens the long-term profitability of the entire portfolio,” she added.
Appeninn is listed in the Premium category of the Budapest Stock Exchange.
“The sale of the portfolio marks an important milestone for Dekada. Over the years, we have developed a portfolio of high-quality retail properties that serve local communities and continue to attract strong interest from tenants,” said Aleksander Walczak, President of the Management Board of Dekada S.A.
“We are pleased that these properties are becoming part of Appeninn’s growing international portfolio. We believe the transaction benefits both parties and provides a solid foundation for the continued development of the assets,” he added.
The acquisition was financed using Appeninn’s own funds and a bank loan provided by Erste Group Bank AG.
Prior to the transaction, Appeninn’s Polish assets included the Wiśniowy Business Park office complex in Warsaw, acquired from Cromwell Property Group and Oaktree, as well as the Goodyear Logistics Center in Tarnów.
Following the addition of the Dekada properties, Appeninn’s investments in Poland now cover three major real estate sectors: offices, logistics and retail.
Indotek Group acted as transaction adviser to the buyer. The company is an investor and asset manager operating across 12 European markets and is also Appeninn’s majority shareholder.
Indotek Polska, the group’s local subsidiary, supported the international team in preparing and completing the transaction, contributing its knowledge of the Polish market throughout the entire process.
Indotek Polska will assume full asset management responsibility for the newly acquired portfolio, extending its remit to cover all Appeninn properties in Poland.
“Advising on a transaction of this scale confirms our investment expertise and our ability to efficiently manage complex portfolio acquisitions,” said Małgorzata Więcko, Member of the Management Board of Indotek Polska.
“As asset manager, we will focus on operational optimisation, strengthening relationships with tenants and unlocking the potential of each property in order to reinforce its market position and create long-term value for Appeninn,” she added.
The transaction confirms the continued interest of investors in Poland’s retail property market. Retail parks remain one of the market’s most dynamic segments, while well-located shopping centres continue to attract investment capital.
The buyer was advised by Greenberg Traurig on legal matters, BDO on financial matters, Cushman & Wakefield on commercial issues and Sentient on technical matters. Schoenherr provided legal advice in connection with the financing.
CBRE Polska will be responsible for property management at the acquired sites.
Source: Managerplus.pl
