Katharsis Development has sold a portfolio of five retail parks, recognized under the brand “HopStop”, to CPI Property Group. Disposal advisory was conducted exclusively by Apleona GVA. The transaction is the first in Poland sale of a standalone portfolio of convenience stores. HopStop concept was recognized in 2017 with a Convenience Store Chain of the Year Award.
Four existing properties constituting sold portfolio are located in Radom (opened in 2013), in Zamość at Sadowa street (opened 2015), in Zamość at Hrubieszowska Street (opened in 2016) and in Rembertów (opened in 2017). The fifth property is currently in the pre-development phase and is already ca. 90% leased. Total GLA of the portfolio exceeds 19,000 m². The tenants include Biedronka, Stokrotka, Mila, Topaz, Pepco, Kik, Hebe, MediaExpert, Neonet.
Rafał Trusiewicz, President and Co-Owner of Katharsis Development commented: “We have fulfilled all business goals: we have created original concept, developed it, commercialized it, and so it is natural to dispose of the investment. It has been several years since the construction of the first HopStop. During this time, the brand developed its awareness and esteem and grew up to be sold as a package. Encouraged by the chain’s business success, we currently seek new opportunities. We plan to develop next HopStops in Ostrów Wielkopolski and Warsaw district Wawer.”
Andras Marton, Country Manager Poland at CPI Property Group adds: „CPI Property Group intends to leverage the present economic growth in Poland to which retail sector forms a strong basis. We are impressed by the quality of the HopStop concept, the parks’ nested locations tailored to service customers. We see great asset value potential in the portfolio.”
Apleona GVA acted as the exclusive agent to Katharsis Development, assisting the company throughout the transaction process; from marketing the properties, carrying out due diligence to negotiating a successful closing. Katharsis Development was also advised by CMT Advisory (M&A and Corporate Finance) and legal company Michałowski Stefański. CPI Property Group was supported by act BSWW Legal & Tax and Knight Frank. Sentient was responsible for technical due diligence.
