The transaction will be executed as an asset deal, subject to customary closing conditions and the Hungarian Competition Authority’s approval. The agreement reflects the attractiveness of the retail park sector as an investment option in Hungary and, indeed, across the CEE region.
Gránit Asset Management will operate the expanded portfolio under the Zone Retail Park brand name. As a result of the transaction, the Zone Retail Park network will now have 17 strip mall shopping centers under unified management, with retail space increasing from 97,800 sqm to more than 142,000 sqm.
“This acquisition is an important strategic step in strengthening the domestic retail market. Through the Park Center units integrated into the Zone Retail Park network, we are creating a unified, nationwide platform that enables sustainable operation, strengthens tenant confidence and creates long-term stable value for both investors and shoppers,” says Álmos Mikesy, chairman of the board and CEO of Gránit Asset Management.
The acquisition takes in eight retail parks and four single-tenant retail units located in Debrecen, Dunaújváros, Marcali, Mosonmagyaróvár, Nagykanizsa, Miskolc, Siófok, Sopron, Szekszárd, Szentlőrinc, Tolna, and Zalaegerszeg. The properties, most of which were developed in the 2000s, are nearly 100% leased.
“We are pleased to cooperate with a leading Hungarian investment manager such as Gránit Asset Management, whose investment strategy aligns with our long-term vision for the portfolio of assets and its valuable tenants,” says Vlad Dragoescu, CEE head of portfolio management at Revetas Capital.
“This transaction marks a significant milestone in our focused and disciplined effort to enhance the Park Center Hungary portfolio’s performance and value for our investors. The outcome exemplifies Revetas Capital’s ability to transform complex situations into resilient, income-generating assets that deliver sustainable returns and long-term value for our stakeholders,” he concludes.
Gránit Asset Management was supported by Kinstellar, Sentient and Grandum Real Estate in the transaction process. CMS acted as legal advisor to Revetas Capital, while Cushman & Wakefield served as the seller’s broker in the transaction.
Retail park stock in Hungary reached 1.7 million sqm in 2025, according to Cushman & Wakefield figures. The pipeline is set to pick up this year with a further 55,000 sqm planned through 2026.
The development of Panattoni Park Moson is set to expand further following a lease agreement with Fiege Szállítmányozási és Logisztikai. In addition to the 18,000 sqm prelet, a lease for the remaining 10,000 sqm of the first building and a commitment to a full second warehouse have resulted in the company leasing approximately 51,000 sqm across the two buildings.
The two warehouses are being developed close to the Austrian–Hungarian–Slovakian border, on a site directly adjacent to the M1 motorway. The first building is scheduled for completion this spring, with the second due in the third quarter of 2026, allowing Fiege to expand its Hungarian capacities in successive phases.
Thanks to its unique location, the park offers immediate international connectivity, particularly advantageous for companies engaged in regional distribution.
“The strategic location, modern infrastructure and sustainability-focused approach of this logistics hub fit perfectly with our long-term objectives and enable us to serve our customers in the Central European region even more efficiently,” says Gergely Hepp, managing director of the Fiege Group’s SEE region.
“The pre-let success in Mosonmagyaróvár is based on an excellent business relationship with Fiege that has been in place for many years, a partnership we greatly value and from which we expect further opportunities in the future,” added László Kemenes, managing director of Panattoni Hungary.
“The development places strong emphasis on sustainability, with the aim of achieving a BREEAM ‘Excellent’ certification and creating one of Hungary’s first dedicated electric truck parking and charging facilities. These elements will support the long-term development of electromobility infrastructure and help reduce the carbon footprint of logistics operations,” he adds.
Panattoni Park Moson is the fifth Hungarian development by Panattoni Hungary. The projects are being carried out within the Recorde Panattoni RPM real estate funds, managed by Recorde Alapkezelő, the real estate fund management subsidiary of the Concorde Group.
Hungary’s full investment transaction volume in 2025 reached EUR 880 million, with an additional significant transaction still in the pipeline that could lift the total volume above EUR 900 mln, according to Cushman & Wakefield.
Activity has been supported primarily by seven large transactions, while smaller deals under EUR 25 mln continue to dominate in terms of numbers.
“Looking ahead to 2026, sentiment is cautiously optimistic, with investors remaining selective in their application,” says Cushman & Wakefield in its Hungarian Outlook 2026 report.
Yields are beginning to stabilize, with prime office at 6.25%, prime industrial at 6.75%, high street retail at 6.75% and hotel at 7%.
“Hotel assets gained strong momentum, anchored by the EUR 100 mln plus sale of the Marriott, which established the segment as a rising strategic asset class,” the consultancy says.
“Investment remains subdued due to high financing costs, tighter fiscal conditions and persistent global uncertainty. Nonetheless, Hungary continues to attract significant Chinese FDI, most notably BYD’s EV plant in Szeged, reinforcing its role as a regional manufacturing hub,” the report concludes.
This article was first published in the Budapest Business Journal print issue of January 16, 2026.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
