W. P. Carey, a leading net lease real estate investment trust (REIT) specializing in corporate sale-leasebacks, build-to-suit properties, and the acquisition of single-tenant net lease assets, is pleased to announce the successful sale-leaseback of 123 retail stores in Poland. This transaction includes the acquisition of 114 stores in July, followed by an additional nine stores in September. The portfolio is fully triple-net leased to Zabka, Poland’s leading convenience retailer, on a 20-year term.
Key Facts of the Transaction
- Market-Leading Tenant: Founded in 1998, Zabka is Poland’s premier convenience store operator, with over 10,500 locations across the country. Serving around 3 million customers daily, Zabka holds a strong position within the Polish retail sector.
- Prime Retail Locations: The portfolio comprises high-performing stores situated in urban, high-traffic locations throughout Poland, supporting Zabka’s well-established customer base.
- Resilient and Growing Sector: Convenience retail is a rapidly expanding segment in Poland, driven by shifting consumer preferences toward smaller, frequent purchases closer to home. The sector has shown resilience, maintaining stable performance amid broader economic challenges.
- Long-Term Leases with Rent Growth: The 20-year triple-net leases include annual CPI-based rent adjustments, supporting income stability and potential growth over the lease term.
- Investment in Central Eastern Europe: With over €1.3 billion invested in Central Eastern Europe since 2006, W. P. Carey continues to expand its portfolio in the region, highlighting its commitment to strategic growth in high-demand sectors.
Jolette Persson, Vice President at W. P. Carey, commented on the transaction, saying: “We are thrilled to complete this sale-leaseback of a high-quality convenience store portfolio leased to a leading tenant with strong brand recognition. This deal is a prime example of our ability to successfully transact in a fast-growing subsector while staying true to our long-term investment philosophy. We are pleased to continue expanding our presence in essential retail in Poland and look forward to continuing our partnership with Zabka as they grow their presence and footprint in the country.”
