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City Center Sofia sold for EUR 102 M

Date: 25.09.2008

?ne of the largest shopping malls in Bulgaria, the City Center Sofia, was sold by its owner Equest Balkan Properties to Heitman European Property Partners for EUR 101,5 M, the Dow Jones reported Tuesday.

Heitman has acquired 100% of Lerma BV, which is the owner of the City Center Sofia - the mall in downtown Sofia close to the Hilton Hotel and the National Palace of Culture, with a total area of 22 000 square meters.

The deal was made in accordance with the CB Richard Ellis evaluation in June. Equest Balkan Properties acquired the City Center Sofia in 2006 for EUR 94 M from Stroitown, which the mall was still under construction.

The deal will be finalized in November 2008 after an inspection of the Competition Protection Commission.

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