The transaction was finalized in early December, with the new owner being TSH Investment AD – a joint venture between the leading Bulgarian investment companies Trinity Capital and Hus Invest. The seller is the Irish investment fund Avestus Capital Partners.
Mall Plovdiv – Sustainability and Strategic Transformation
Mall Plovdiv, a premier retail and entertainment destination in town, is strategically located in one of the greenest areas of the city, in immediate proximity to a neighborhood with high-density population. The shopping center features more than 90 shops and services spread across approximately 22,000 sq m of gross leasable area, offering a diverse mix of international and local brands. Convenient access from major city roads and ample parking — including a combination of covered and outdoor parking facilities— ensure a seamless and comfortable experience for visitors.
In early 2023 Mall Plovdiv became the first shopping center in Bulgaria with a fully operational rooftop photovoltaic system producing green energy for the building’s own consumption. Within its first three years of operation, the system generated more than 1.6 million kWh of renewable electricity, resulting in a reduction of the mall’s carbon footprint by over 800 tons of CO₂. This initiative positions Mall Plovdiv as a benchmark for sustainable asset management and the practical application of circular economic principles.
During the period 2022–2023, the shopping center underwent a large-scale interior redesign, followed by the introduction of a new visual identity and a modern logo. Enhancing the tenant mix was also a key part of the transformation: over the past two years Mall Plovdiv has introduced several internationally renowned brands, including Pinko, BOSS, Jack & Jones. In 2026 the mall will welcome the city’s first MOHITO fashion store. More retail partnerships with brands and concepts exclusive to Plovdiv are in progress.
The New Owners’ Growth Strategy
The acquisition of Mall Plovdiv is part of TSH Investment long-term strategy to take over key retail assets in Bulgaria. The new owners plan to further strengthen the mall’s positioning as a premium shopping and entertainment destination by attracting new and city-exclusive brands, as well as through continued investments in modernization and sustainable solutions.
“We see tremendous potential in Mall Plovdiv – both as a retail asset and as a key entertainment destination for the city. Our ambition is to build on its proven success and further develop it into a modern, convenient, and inspiring destination,” representatives of TSH Investment commented.
In Q1 2025 TSH Investment acquired its first landmark shopping center in Bulgaria — Park Center Sofia. In both transactions Kinstellar acted as the buy-side advisor.
