Dekada S.A. has finalised the sale of 11 retail properties operating under the Dekada brand to Appeninn Asset Management Holding Plc., a company listed on the Budapest Stock Exchange. The value of the transaction exceeded €100 million. It comprises a mature portfolio of modern convenience centres, developed by Dekada over the course of more than a decade.

The transaction involves a portfolio of 11 retail properties (7 retail parks and 4 shopping centres) located in 11 towns and cities across Poland: Nowy Targ, Myślenice, Malbork, Kraków, Grójec, Żyrardów, Skierniewice, Olsztyn, Brodnica, Sieradz and Ciechanów. The total lettable area (GLA) is approximately 53,000 sq m. The properties were completed between 2011 and 2024 and form a portfolio of modern convenience centres. Their occupancy rate exceeds 95 per cent, and the tenants include well-established national and international retail and service chains, such as Biedronka, Carrefour, Stokrotka, Rossmann, Hebe, H&M, Empik, Jysk, Castorama, Pepco, Action, Apart and Ochnik. Over the years, these properties have consistently strengthened their position as key destinations for everyday shopping in their local areas, providing customers with convenient access to a wide range of retail and service offerings, as well as stable operating results.

– “From the very start, we have focused on creating modern retail centres, mainly in city centres, that meet the needs of local communities. We have developed each project with long-term value in mind – for tenants, local residents and investors alike. This transaction is the culmination of our team’s many years of work and confirmation that our strategy of building a high-quality portfolio has been recognised by an international investor,” says Aleksander Walczak, CEO of Dekada S.A.

Following the completion of the transaction, the company’s portfolio retains its largest asset – the Dekada Nysa shopping centre – with an area of nearly 20,000 sq m, housing over 70 retail, service and catering outlets, as well as an entertainment zone. The company is also  continuing its preparations for the development of  the Dekada Mińsk Mazowiecki Integrated Transport and Retail Centre.

The purchasers of the portfolio are companies belonging to Appeninn Holding Plc., one of the largest publicly listed investment groups in Hungary. The group is already present on the Polish market as the owner of Wiśniowy Business Park in Warsaw and the Goodyear logistics centre in Tarnów. Through the acquisition of the Dekada projects, it is expanding its operations into the retail property sector. Once the transaction is finalised, Indotek Polska will assume responsibility for the asset management of the acquired portfolio.

–  “The acquisition of the Dekada portfolio gives Appeninn immediate scale in the Polish retail property market and adds a substantial retail component to our existing office and logistics investments in the country. The portfolio’s geographic reach, high occupancy and established tenant mix reflect the quality of the assets Dekada has developed over more than a decade and align closely with our strategy of investing in income-producing properties across Central and Eastern Europe. We thank the Dekada team for their professional and constructive cooperation throughout this complex transaction,” says Györgyi Szűcs, CEO of Appeninn Plc.

Indotek Group, a real estate investment and asset management group active in 12 European markets and Appeninn’s largest shareholder, acted as transaction advisor to the buyer. Capital Park Group’s Investment team, led by Anna Tomaszewska, was responsible for commercial advisory services on the transaction. Dekada S.A. was also advised by CBRE, the law firm Dentons and TPA Poland, which acted as adviser to both parties to the transaction. On the buyer’s side, advice was provided by Cushman & Wakefield, the law firm Greenberg Traurig Poland and Sentient.

– “The sale of such an extensive portfolio of retail properties was a complex process, requiring close cooperation between all parties involved. I am delighted that, together, we have managed to bring it to a successful conclusion. I would like to thank the teams at Dekada S.A., Appeninn and all the advisers for their professionalism, commitment and cooperation at every stage of the project,” says Anna Tomaszewska, Head of Investment at Capital Park Group.