Send to Kindle
Retail Park Plovdiv is a 25,000 sq m retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east of Sofia. Photo by Retail Park Plovdiv
Europa Capital, member of the US real estate company Rockefeller Group, announced it has entered into an agreement to acquire Retail Park Plovdiv, Plovdiv, Bulgaria, from Landmark Property Management.
This investment represents the first asset to be acquired by Europa Capital in Bulgaria. The transaction volume for the investment is EUR 20 M.
Retail Park Plovdiv is a 25,000 sq m retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east of Sofia.
The property has a quality tenant mix including Baumax, Deichman Shoes, DM pharmacy, Technomarket electronics and Sport Depot.
The asset will be managed by Alfa Property Management.
"We are delighted to have secured our first asset in Bulgaria, which represents a quality investment with a strong tenant roster," Tim Norman, Chairman of the Europa Emerging Europe Fund, commented.
Rockefeller Group (RGI) plans to buy a controlling stake in property fund manager Europa were announced in October last year.
Rockefeller, established in 1928 by John D Rockefeller to develop the eponymous centre in Manhattan, which is now owned by Japan's Mitsubishi Estate, acquired a 75% stake in Europa Capital in a deal that created a USD 20 B fund management group.
London-based Europa is a private equity real estate fund manager with more than EUR 2 B of asset under management.
It has raised six opportunistic real estate funds and invested more than EUR 6 B in 17 European countries since 1995. It is currently investing its third regional fund as well as another focused on Eastern Europe.
The real estate fund manager Europa Capital declared its interest in the Bulgarian market as early as in 2007, when it said it is looking at a commercial center in Bulgaria.
After the recession set in, the company was forced to postpone its plans, but in March last year announced its determination to make a comeback in Eastern Europe after an absence of more than two years. It said it is in talks for the purchase of an office project in Sofia.
The company says it is planning to invest over EUR 100 M in key markets like Romania, Bulgaria, Turkey and the Western Balkans.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a recent meeting of the European Council, Acting Prime Minister Dimitar Glavchev underscored Bulgaria's unwavering support for Ukraine amidst discussions surrounding the fight against disinformation and foreign manipulation of information
In an unexpected turn, Bulgaria and Turkey have been notably absent from the list of the ten cheapest European summer destinations for British tourists
In a testament to enduring friendship, this year marks the 75th anniversary of the establishment of diplomatic relations between Bulgaria and China
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
Acting Minister of Transport, Georgi Gvozdeikov, has taken the unprecedented step of canceling the tender for the supply of 35 single-deck motor trains, valued at a staggering BGN 1.1 billion
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
Russia has issued a stern warning in response to Bulgaria's recent legislative efforts aimed at seizing Russian real estate
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
