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US Realtor Gramercy Buys Sofia Business Park

Date: 04.12.2006

US real estate investment trust Gramercy Capital Corp. bought a Sofia business park from German construction firm Lindner.

The price of the deal was EUR 180 M, real estate agents from Colliers International Bulgaria announced on Friday adding it marks the largest ever real estate investment in Bulgaria.

"The scope and size of this transaction represents a turning point in the investment market of Bulgaria," Philip Bay, Regional Director of Colliers International in Southeast Europe, was quoted as saying.

In his words, Bulgaria has now become a serious opportunity for major investors on both sides of the Atlantic.

Business Park Sofia is the largest business park in the region. Designed as a "city within a city," it is spread over a land of 220,000 square meters. Upon completion, it will house 400 companies and 10,000 employees.

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