Budapest, 24 February 2025 – Shopper Park Plus Nyrt. (SPP) is pleased to announce the successful acquisition of a Tesco-anchored retail park portfolio in Slovakia, marking a significant milestone in its strategic goal of becoming a leading owner and operator of food-anchored retail parks in Central and Eastern Europe (CEE).
Shopping Malls SVK s.r.o., a Slovakia-based entity majority-owned by SPP’s subsidiary, SKRADEVEL Holding Ltd., completed the acquisition from TESCO STORES SR with a combination of its own funds and a credit facility attracted from Unicredit Bank Czech Republic and Slovakia, a.s..
With this acquisition, SPP has now officially become the owner of four retail parks in Slovakia (Žilina, Nitra, Trnava and Dunajská Streda). This acquisition significantly strengthens SPP’s market position in the CEE region, with a portfolio now totaling 22 locations across Hungary (14), the Czech Republic (4) and Slovakia (4).
The acquired assets were previously owned and operated by the Tesco Group. As with SPP’s previous acquisitions in Hungary and the Czech Republic, the anchor tenant for these retail parks will remain Tesco, through its local subsidiary, TESCO STORES SR, a.s.
A key pillar of SPP’s long-term strategy is to build and operate one of the largest and most profitable retail park platforms in the CEE region while maintaining a strong focus on sustainability. The company aims to enhance the environmental performance of its portfolio and reduce its overall carbon footprint. By investing in green technologies such as geothermal systems, photovoltaic farms, energy storage units, smart building management systems (BMS), and LED lighting upgrades, SPP prioritizes ESG-driven developments that boost energy efficiency and optimize building operations. These initiatives help reduce lifetime CO2 emissions, offering a more sustainable alternative to new development projects with higher carbon footprints.
Despite prevailing economic uncertainties, SPP has successfully completed a highly anticipated private placement on the Budapest Stock Exchange to secure equity funding for its share of the acquisition. The offering was oversubscribed by more than 2.5 times, with Adventum Penta Co-Investment SCSp, an investment fund featuring EBRD as limited partner, increasing its holding from 11.14% to 15.67%. Such interest in the offering reflects strong investor confidence in SPP’s strategy of focusing on this resilient sector and Adventum’s expertise in asset management to maximize performance.
Vlaho Kojakovic, Director of the Real Estate Team at the European Bank for Reconstruction and Development, commented: “We are pleased to see Adventum is delivering on its value-add strategy, expanding further into the CEE region, and progressing the implementation of its sustainability objectives”.
Kristóf Bárány, Chairman of SPP’s Board, confirmed that in the long run SPP has ambitious plans for further growth in the coming years in the CEE region and thanked investors, especially EBRD and joint venture partners, in particular Unity Vagyonkezelő Alapítvány, for their continued support and trust which is crucial for SPP. He also emphasized SPP’s and the Board’s commitment to outstanding financial results, stable dividend payment as well as the continued green transition of the acquired properties.
The Dentons team provided legal services for due diligence, transaction, and financing. Deloitte Advisory assisted Adventum throughout the transaction by offering structuring, financial, and tax due diligence services. Hümpfner & Associates provided legal advice on corporate matters and private placement. Meanwhile, Eston Savills supported Adventum with commercial brokerage, underwriting, ESG considerations, and technical due diligence. The bank received legal guidance from CMS.
About Shopper Park Plus
Shopper Park Plus Nyrt. (SPP) owns and operates a portfolio of 22 Tesco-anchored retail parks, including 14 properties in Hungary, 4 in the Czech Republic, and 4 in Slovakia. The company manages a total of 398,000 square meters of gross leasable area (GLA) across its retail parks, hosting over 600 tenants. SPP’s strategic vision is to become the market leader in food-anchored retail parks in the CEE region. The company is predominantly owned by institutional investors, with the largest stakeholders being Adventum Penta Fund SCA SICAV-RAIF and Adventum Penta Co-Investment SCSp on behalf of EBRD, both of which are managed by Adventum Fund Management Ltd.
About Adventum
Adventum Group, including its flagship entity, Adventum Investment Fund Management Ltd., based in Hungary, manages investment funds that focus on real estate assets in the CEE region. These funds currently own more than 700,000 square meters of commercial and office properties, with a total asset value exceeding €1 billion.
About EBRD
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 74 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, well governed, green, inclusive, resilient and integrated.